Perez was optioned to Triple-A Louisville on Monday.
Perez was called up by Cincinnati on Thursday, but he'll return to the minors to make room on the active roster for Wade Miley (foot), who was reinstated from the 10-day injured list Monday. Perez made two relief appearances during his most recent stint in the majors and allowed one run on three hits and a walk while striking out one in 1.2 innings.