Felder was released by the Raptors 905 on Monday, Marc Spears of ESPN reports.
Felder scored 23 points to go along with four rebounds and six assists in the loss Saturday to the Blue Coats.
Felder was waived by the Raptors on Friday, Blake Murphy of The Athletic reports.
Felder has signed a one-year, partially guaranteed contract to compete for a roster spot with the Raptors during training camp, Sam Amick of USA Today reports.
Felder won't be tendered a qualifying offer from the Pistons and will become an unrestricted free agent, Vince Ellis of the Detroit Free Press reports.
Felder mustered 3.6 points, 1.3 assists and 1.1 rebounds through 16 games played with the Pistons and Bulls during the 2017-18 season.
Felder has been called up from the G-League Grand Rapids Drive and will remain with the Pistons for the remainder of the season, Rod Beard of The Detroit News reports.
Felder provided 19 points (6-15 FG, 3-8 3Pt, 4-4 FT), eight assists and two rebounds during Thursday's 112-102 taming of the BayHawks.
Felder managed 28 points (9-23 FG, 1-6 3Pt, 9-9 FT), 11 assists, five rebounds, two steals and one block during Saturday's 110-106 loss at Greensboro.
Felder amassed 15 points (6-15 FG, 2-4 3Pt, 1-2 FT), six assists, five rebounds and one steal during Wednesday's 115-104 loss to the visiting Mad Ants.