Peralta has elected free agency after being designated for assignment by the Cubs last week, Mark Gonzales of the Chicago Tribune reports.

EDGE Analysis

The Cubs could not find a trade partner for Peralta, and the reliever decided to become a free agent rather than report to the team's Triple-A club. Peralta posted a 5.93 ERA over 31 appearances out of the Cubs' bullpen this season but has 620 big league appearances under his belt, so he should still draw interest from teams in need of relief help.