I have recently come across the notation $\mathcal{B}^{\mathcal{A}}$ meaning the set of all functions from set $\mathcal{A}$ to set $\mathcal{B}$.
Using this fact, I am wondering if the following expressions are equivalent: \begin{align*} &f:\mathcal{A}\times\mathcal{B}\to \mathcal{C}\\ &f:\mathcal{A}\to\mathcal{C}^\mathcal{B} \end{align*}
Apologies if this is trivial, I am just a bit confused about the usage of the set raised to another set notation.
No. Strictly speaking the two notations talk about two different functions simply because they have different domains and codomains:
However, they are equivalent in the following sense:
Given any function $f : A \times B \to C$, you can get a function $f^\ast : A \to C^B$ by the recipe: $$\big[f^\ast (a)\big](b) = f(a, b)$$ Conversely, given any $g : A \to C^B$, you can get a function $\overline{g} : A \times B \to C$ by the recipe: $$\overline{g}(a, b) = \big[g(a)\big](b)$$ The correspondences $f \mapsto f^\ast$ and $g \mapsto \overline{g}$ between the sets $A \times B \to C$ and $A \to C^B$ are inverses of one another and they establish a natural bijection between those two sets. In this sense you can see the two functions $f : A \times B \to C$ and $f^\ast : A \to C^B$ (or $g : A \to C^B$ and $\overline{g} : A \times B \to C$) as being essentially the same.
Some go as far as to drop the asterisk and say that $f : A \times B \to C$ and $f : A \to C^B$ are the same function when what they really mean is that $f : A \times B \to C$ and $f^\ast : A \to C^B$, as defined as above, represent the same function. This abuse of notation is probably what got you confused.