Ran fast (4)
'ran fast' is the definition.
(I've seen this before)
This is the entire clue.
(Other definitions for raced that I've seen before include "Took part in competition of speed" , "Sped" , "Took part in speed contest" , "Hurried" , "Travelled at speed" .)
(Other definitions for sped that I've seen before include "Dashed" , "Moved quickly" , "Went quickly" , "Hastened" , "Travelled quickly" .)