Perez is increasingly open to offloading the 28-year-old - who has attracted interest from Manchester United in the past - due to his poor injury record and Zidane's concerns, while they feel PSG have shown them up by signing Kylian Mbappe and Neymar.
But Madrid came out in the second-half scoring three goals in 15 minutes to put the game back in their hands, with it eventually finishing 5-3 to the defending La Liga champions. Betis did fantasically and played very well. If I am to continue, before the end of the season I will tell you.
Loren and Joaquin, the latter from a free-kick, both came close before Aissa Mandi headed in a Joaquin cross to make it 1-1 in the 33rd minute.
Junior Firpo then forced Nacho (37) into an unfortunate own goal, to give the home side a surprise lead.
The Portugal star has found his shooting boots in Spain's top flight, having endured a hard first half of the campaign.
Madrid recovered superbly after the restart, though.
"Hopefully, it's something small", Real boss Zinedine Zidane said of Marcelo's injury at his post-match press conference.
With Karim Benzema finally dropped to the bench after months of under-performance, Asensio's action-packed outing, which saw him start on the left wing but frequently maraud inside, appeared to have settled the debate over the front line. "I'll keep the fact that we scored five".
Real are fourth in the league standings on 45 points, 17 behind runaway leaders Barcelona although they can climb above Valencia and in to third place if they win at Leganes on Wednesday.
And Los Blancos followed up that triumph with a victory in a goal-laden match at Benito Villamarin that swung back and forth between two teams who dazzled with a stunning display of attacking football.
Villarreal are sixth after a 1-1 draw at Espanyol, while Real Sociedad beat Levante 3-0.