Baited a steed terribly (6)
I believe the answer is:
teased
'baited' is the definition.
('tease' can be a synonym of 'bait')
'a steed terribly' is the wordplay.
'terribly' indicates an anagram.
'a'+'steed'='asteed'
'asteed' is an anagram of 'TEASED'.
(Other definitions for teased that I've seen before include "Separated fibres - ragged" , "Provoked, being sedate" , "Annoyed or separated fibres" , "Gently ribbed" , "Taunted playfully" .)