Frazier will sign a 10-day contract with the Cavaliers on Friday, Shams Charania of The Athletic reports.
Frazier spent time with the Magic on a pair of 10-day contracts in late December and early January, and he averaged 3.7 points and 3.3 assists in 20.0 minutes per game across 10 appearances. He'll provide additional depth in the Cavaliers' backcourt since several of the team's guards are dealing with injuries.