It's commonly known as "the race that stops two nations", and frankly it's pretty easy to see why.
Despite a grim forecast of rain and hail, thousands of people are arriving in Melbourne for one of the most anticipated events in the sporting calendar.
For New Zealand fans there'll be a lot of attention on Jockey Michael Dee and his horse.
On Monday morning, a vet assessed Lunar Flare and found she was showing signs of lameness.
Dee told 1News that with a second exam due to take place on the morning of the big race, it'll be a nervous wait for the team.
"Hopefully in the morning it works out and we can have luck again – and we can be on the winning buzz."
However, he's not let that spoil the fun of the Cup, especially after winning the Caufield Cup this year.
"It does it makes me feel good in myself and everything I'm doing is working – it's certainly going into a Melbourne Cup with a lot of confidence."
A big slice of attention will be given to Montefilia. New Zealander Jason Collett is her jockey and the bookies have the pair fourth currently in their odds (NZ$12.12).
1News spoke with some of the owners of the horse, Richard Kurland and Caroline Vincent, who are quietly confident.
"She put on a good run in the Caufield Cup which is often a very indicative lead up."
The race starts about 5pm NZT.
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