Paige sank 11-of-11 from the free throw line and Kennedy Meeks supplied 13 points, 11 rebounds and five assists as the Tar Heels (3-1) shot 54.2 percent from the floor in downing the defending national champs.
Brice Johnson added 13 points with six rebounds for North Carolina, which lost to Belmont in the event's first round last week.
Russ Smith canned six 3-pointers on his way to 36 points for the Cardinals (5-1), who suffered their first loss of the season.
Chris Jones added 18 points and six rebounds.
2014: The Year in Music [PHOTOS]