If you look around the league, it's not easy to find the perfect trade fit for Toronto's veteran point guard Jose Calderon. As a player in the final year of a deal that pays him $10.56 million this season, you have to figure that any trade partner would likely have to fit the following criteria:
A contending team that's willing to roll the dice on what could be only a few month's worth of Calderon.
A team with an expendable player, preferably a SG, SF or C, who they could offer as a centerpiece in return.

Lets take a look at some possibilities, shall we?

Indiana's Danny Granger is rumored to be on the block. The Pacers have played well without him this season, he's due to earn over $14 million next season, and Paul George's emergence makes him more expendable, but Indy would probably want more than an expiring contract with no guarantees beyond this season.

Utah is another obvious possibility, given the Jazz's gaping hole at point guard with Mo Williams expected to be sidelined through mid-to-late February. The problem is that Utah doesn't have much more than the expiring contracts of Al Jefferson and Paul Millsap (not a fit) to offer in return, unless the Raptors would be up for something like Marvin Williams ($7.5 million player option in 2013-14) and young swingman Alec Burks.

Dallas, Detroit and maybe even a team like Milwaukee could be other options. The Mavericks lack the trade chips, but need help at the point, while the Pistons and Bucks both have pieces to deal but aren't serious contenders.