Walks around space (5)
I believe the answer is:
paces
'walks' is the definition.
(pacing is a kind of walking)
'around space' is the wordplay.
'around' indicates anagramming the letters.
'space' is an anagram of 'PACES'.
(Other definitions for paces that I've seen before include "Space for steps" , "Steps or strides" , "Single steps" .)