The West Australian's hot streak continued at Gold Coast's Sanctuary Cove on Friday, shooting a four-under 67 to sit alone at 10 under entering the weekend.
It follows a breakthrough triumph at the Australian Open in Adelaide last Sunday and victory at Singapore's Women's World Championship, her seventh LPGA title.
Victory at the $600,000 event would secure a unique Australian golfing double, given the Karrie Webb Cup has only been contested once before.
Bogey-free on Thursday, Green's second round was far more colourful as she mixed six birdies and an eagle with a double bogey and another dropped shot.
She had three birdies in four holes to jump clubhouse leader Meghan MacLaren (eight under) before finding the water on the par-three sixth and carding a five.
But Green responded by putting her second shot on the par-five seventh within eight feet of the flag and nailing the eagle putt.
Another long-range birdie putt on the 13th edged Green further ahead, although Germany's Alexandra Forsterling holed a monster of her own on the 18th to card a five-under 66 and finish three back.
England's MacLaren (68) held onto second while Harang Lee, Alessandra Fanali, Vanessa Knecht and Casandra Alexander were a shot further adrift of Forsterling at six under.
Hannah Reeves backed up her first-round 67 with 70 to sit at five under, while compatriot Sarah Kemp was a shot further back.
But LPGA talent Steph Kyriacou's tough run continued, missing the two-over cut line by five shots after also missing the cut in Adelaide.
23°C