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Using a new data set, this paper analyzes how ascription as measured by race/ethnic characteristics is shaping the Peruvian contemporary class structure. I found that the impact of the race/ethnic dimension in social mobility is minor in comparison with the class aspect. It is more centered on the effect that the race/ethnic dimension has on the class position for the previous generations than for the more contemporary ones. However, differences in equality of opportunities between indigenous and whites are still present: ?Whites? are the ones that are experiencing the least stratification (less inheritance) and have fewer barriers to upward mobility. The case of the ?mestizos? will be presented as one of ?perverse openness? where increased relative mobility corresponds in this case with processes of downward mobility. This paper suggests that the race/ethnic and class stratification orders are then mixing together. Even though inequality of opportunities are still accounted by race/ethnic differences, these results would suggest that class stratification will probably completely replaced race/ethnic ones, when a lower impact of association between origin and destinations will happened for the future generations, due the intense processes of race and ethnic cultural transformation and the increase of ?mestizaje?. [ABSTRACT FROM AUTHOR]