Believe it or not, Baraka MAY have the advantage in this match...
BARAKA
If you don't know how to deal with Raiden superman spamming, then this will be a very difficult match for your Baraka. However, Baraka has some of the best counters to Raiden in MK2. If Raiden gets superman-happy, just crouch block, and immediately jump kick- you will rarely miss punishing with that. And the most obvious counter, buffering the shredder, for when Raiden teleports. Trap Raiden in a corner and golden punch LP while buffering the shredder. If Raiden tries to escape, he will get hit by either your punches, or a shredder if he teleports out. Baraka's jump punch will beat Raiden almost every time in the air. If you face an especially turtley Raiden, try to force them to teleport into a corner, and then be aggressive.
RAIDEN
If you're playing a dud Baraka, have no fear- just superman all day and you'll be fine. If you're playing a stud Baraka however, you will need to play this match extremely smart. Do not get predictable with your supermans. Only teleport when you can see Baraka isn't buffering the shredder. Avoid corners- you will meet your demise in them. A good play is jump punch/air superman, because Raiden's jump punch gets air priority (surprisingly) often against Baraka. Sneak in a shock grab when in close, but don't spend too much time there, as Baraka has the better CQC. Lightning bolt is good as a zoning tool, because Baraka is pretty one-dimensional if you keep your distance from him.
I lose more matches to Raiden with Mileena than I do to Raiden with Baraka. This is not a fluke. Baraka has the weapons to bash Raiden around like a ragdoll. He is also incredibly tank-like if used properly. Yet Raiden is never without his resources. With his tricky teleports and supermans, he will give Baraka a good challenge.
A 5-5 match, one of the best in MK2 as far as evenness goes.