Formula 1 is in Melbourne for the third round of this year's championship.

The Australian Grand Prix is one of the biggest sporting events annually in this country, with record crowds expected at Albert Park.

The grid is now set for Sunday's race, with fans ready to enjoy 58 laps of speed and adrenaline.

Here is what you need to know ahead of Sunday's grand prix.

Where can I watch the Australian Grand Prix?

The Australian Grand Prix is on both free-to-air and pay television, as well as online.

You can watch this year's race on:

• Network 10
• Foxtel, channel 506
• Kayo

ABC Sport will be running a live blog of the Australian Grand Prix from 2pm AEDT.

What time does the F1 race start?

• 3pm — NSW, Vic, ACT, Tas
• 2:30pm — SA
• 2pm — Qld
• 1:30pm — NT
• 12pm — WA

How long will the race last?

All F1 races (except the Monaco Grand Prix which is slightly less) are contested over 300km, plus one lap.

The Albert park track is 5.278km in length. 

This means the race will be held over 58 laps, for a total of 306.124km.

Most races last between 80 to 100 minutes in length.

Last year's Australian Grand Prix was the longest race of the season, based on length of time from start to finish.

Max Verstappen took the chequered flag more than two-and-a-half hours after the race began.

Last year's race had three stoppages due to crashes, leading to the race going for about an hour longer than usual.

Where is the Australian Grand Prix being held?

Since 1996, the Australian Grand Prix has been held in Melbourne around Albert Park.

Albert Park is just south of the Melbourne CBD and is a stone's throw from St Kilda Beach.

The circuit makes its way around Albert Park Lake, with Port Phillip Bay and the Melbourne skyline providing a beautiful backdrop to this iconic track.

Who is on pole, and where will Oscar Piastri and Daniel Ricciardo start?

Max Verstappen will start the race on pole position after qualifying fastest in Melbourne for a second-consecutive year.

The Red Bull driver will be joined by Ferrari's Carlos Sainz on the front row of the grid.

It was a mixed result for Australian drivers in Saturday's qualifying.

McLaren's Oscar Piastri showed plenty of pace to qualify sixth, while Daniel Ricciardo could only manage 18th on a tough day in Albert Park.