Jimmy Spithill won't admit it but the outspoken Oracle skipper is sure to be nervously looking over his shoulder after Team New Zealand laid down the gauntlet to the America's Cup defenders.

As the American boat was rocked by technical issues prior to their loss to Sweden, the Kiwis found perfection on the penultimate day of qualifying.

With foiling playing such an integral part in performance, completing the course with the boat in the air 100 per cent of the time - or a 'dry lap' - is seen as the holy grail for many of the competitors.

RICARDO PINTO/ ACEA 2017 Team New Zealand operating at high speed on Bermuda's Great Sound in the America's Cup round-robin qualifiers.

And while there was talk of one or two teams nailing it in practice, up until today it had yet to be done when it actually mattered.

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Enter Peter Burling and co.

Having missed out on the perfect race by just 0.04 per cent as their bows touched the water while crossing the line in the comfortable win over Japan, they achieved the ultimate against France.

The Kiwis were flawless in everything they did against Franck Cammas' crew, achieving the magical mark of keeping the catamaran airborne for the entire seven legs to roar home by more than four minutes.

The elation among the crew was clear to see as they crossed the finish line, with hand shakes and back slaps all round.

Burling was playing down the achievement once they returned to land but, deep down, he will know they are building towards something special.

"It's something we've been trying to do for a long time," the talented helmsman said. "We've definitely done dry laps back home and I thought we were pretty close in that first race to do it as well.

"All the teams up here are incredibly close to that 100 per cent dry lap. For ourselves it really just should be a given, but later on in the event I think you'll see everyone doing that every race."

The twin victories, along with Oracle's upset loss to Sweden, means crunch time has come early for New Zealand, with tomorrow's showdown against the Americans determining who wins the qualifying series and takes a point into the America's Cup match.

While the Kiwis now hold a one-point lead in the standings, Oracle, who suffered a broken a rudder prior to the race against the Swedes, hold the tiebreak advantage having finished above the Kiwis in the America's Cup World Series.

They also have a race in hand, against Ben Ainslie Racing in the final race of the day.

New Zealand have to win if they want an advantage that could well decide who wins the Auld Mug, should they make it to the finale.

But judging by today's stunning performance, few would put it past them.