Peralta, a free agent after the season, has already been traded once this year, going from the Milwaukee Brewers to the Mets in a four-player trade in which New York gave up a pair of top-five prospects in infielder-outfielder Jett Williams and right-handed starter Brandon Sproat.
This time, Peralta's price would be lower as the acquiring team would not be able to get draft-pick compensation through the qualifying offer. A qualifying offer can only be extended to a player who is with a team for the full season.
The report mentioned that the Mets are holding on to Peralta until at least June 1, at which time the team will reevaluate its position on Peralta and other tradeable assets.
The Cubs are in the market for at least one starting pitcher as they currently have three of their projected four Opening Day starters on the injured list, including Cade Horton being out for the season.
Peralta has ties to both teams from his Brewers days. Mets president of baseball operations David Stearns led Milwaukee's front office while Peralta was on the roster and Cubs manager Craig Counsell was Peralta's manager in Milwaukee.
Peralta will be one of the top free agents available this offseason.