New Zealand overhauls Australia on the medal table. Time to panic?

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While Australia's heads were turned looking at Great Britain the sneaky Kiwis have really turned our Olympics on its head by grabbing their second and third gold medals all the while climbing to a lofty 10th on the overall medal tally.

See full medal tally.

New Zealand's most successful Olympic day since 1960 in Rome (where Peter Snell won the 800m and 1500m in quick succession) has come at a time when the Australian team seems to have developed an allergic reaction to gold.

Cue the trans-Tasman ribbing.

Ranked per capita the Kiwis now top the alternative medal tally The Guardian are trumpeting (things are also looking brighter for Australia here, as we came up third).

Flight of The Conchords star Rhys Darby chipped in early on Twitter with:

"New Zealand are ahead of Australia on the medals table. Geez I wonder how that must feel eh Aussie? #lympicsbro"

This was followed by a smattering of factoids to show how good the wins of Mahe Drysdale, Eric Murray and Hamish Bond were in New Zealand's golden hour at the Eton Dorney rowing centre.

Did you know there are more vending machines in Japan than there are people in NZ? You do now.

It's quite an achievement for the tiny nation and it would be tough to begrudge them their smugness as Australia would react the same if we were to overhaul the mega-nation of Great Britain.

The Kiwis, however, are not missing their chance to rub it in our 'arrogant' faces with a host of memes mostly done at Australia's expense.

First came Kiwi criticism of Emily Seebohm's tears following a silver medal while their equestrian team celebrated bronze.

No one has had the heart to tell the Kiwis that Australia generally aims for excellence and Seebohm has since explained her tears not wanting to seem petulant - she is very proud of her silver medal.

Then came the stream of laughs over our current position on the medal table - eigtheenth if anyone was counting.

While it hasn't been our most successful start to an Olympics to date - a little too much emphasis seems to have been put on gold medals on both sides of the ditch.

Let's not forget the great performances of the men's quad sculls and women's pairs today to take home bronze and silver, respectively. They took our overall tally to a very healthy 13.

The golds will come in time.

So let's sit back and appreciate this great moment in sport for our Kiwi cousins. Let's hope we over take them next week.