Padua has more than a day's worth of sights; the city takes up more than 30 pages in Rick's guide to Venice. However, Padua is an exceptionally short train ride from Venice (as short as 14 minutes, with many trains each hour), so if you decided to go there twice while sleeping in Venice, the cost in transportation time (and in train fare) would be pretty minor--assuming it doesn't take terribly long for you to get from your Venice hotel to the train station. On the other hand, hotel rates in Venice are (in normal times) comparatively high, and hotels in Padua are a relative bargain. As a general rule, it's my policy not to take a bunch of side-trips to cheap destinations from cities with high hotel rates. You may not have that hang-up.
Ferrara (where I've never been so don't have a sense of whether you might prefer more than a day trip there) is considerably farther from Venice (45 to 90 minutes by train, roughly) and is in the same direction as Ravenna. It would take somewhat longer to day-trip there from Ravenna than from Venice (again, assuming you don't have to take a long vaporetto ride to get between hotel and train station), but I bet your hotel cost in Ravenna will be a lot lower, so...
What time of year is your trip? One other factor I consider when thinking about logistics is that a long stay somewhere with a variety of tentatively-planned destinations and activities gives me more freedom to react to changing weather conditions. Ravenna has at least seven indoor mosaic sites, so it wouldn't be an awful destination on a rainy day.