The Wildcats were at one stage 12 points down in the fourth quarter at the Cairns Convention Centre on Monday night but ran out of time as the Taipans got back in the winners' circle following Saturday's loss to Melbourne United.
Both sides were rocked by late withdrawals - Taipans veteran Mark Worthington pulled up sore while Perth import Casey Prather missed the match with the same complaint.
The Wildcats shot out of the gates early, scoring eight straight points before the Taipans could even get on the board courtesy of import Travis Trice.
Wildcat Angus Brandt kept the premiers rolling in the second quarter with the centre dominating the paint to score 10 points before halftime.
Jarrod Weeks caught fire in the dying stages of the third quarter and rained a hat-trick of triples on the Wildcats, giving the Taipans a two-point lead at three-quarter-time.
That long-range confidence seeped into the rest of the Taipans and former Wildcats sharpshooter Stephen Weigh stepped up with his best game of the season.
Weigh shot three final-stanza threes to bring his total to 19 points while Alex Loughton also hit the mark from deep to help extend Cairns' lead.
Perth wouldn't go away though as Bryce Cotton, Jesse Wagstaff and Dexter Kernich-Drew got them them to within two points with 30 seconds to play.
However a turnover from Cotton with eight seconds on the clock put an end to Perth's roaring comeback.
Cairns stay second-last on the ladder while the Wildcats remain fourth.
The sides face off again on Friday in Perth.
