Australia were cruising towards a three-goal victory at the 70-minute mark but Spain found the net twice in the dying stages, resulting in a 3-2 win for the Matildas.

"I think it's a good thing that we've copped two goals ... and we're disappointed (to do so) against a top team," Kerr told reporters.

"That's the pride and the standard we set for ourselves.

"We're happy with the win. When you come off the pitch, when you set high standards, you want to keep a clean sheet. At the end of the day we won - it would have been nicer to do it with a clean sheet."

The Matildas raced out to a 3-0 halftime lead at CommBank Stadium with goals from Cortnee Vine, defender Clare Polkinghorne and striker Caitlin Foord.

But the world No. 7 side proved tough opposition, putting two late goals past an otherwise solid Mackenzie Arnold.

While the first half-sparkle was slightly dimmed at the final whistle, Kerr claimed the friendly Cup of Nations competition was designed for some trial and error ahead of this year's World Cup.

"We wanted to try different players, different things and different formations, which we did within the game," she said.

"At the end of this week we can lift a trophy but we see it as finishing top of the (World Cup) group. 

"This is an important game, it's a really good test run for the World Cup, we're not going to take our foot off the gas." 

Australia, who defeated Czechia last week, face Jamaica on Wednesday in Newcastle in the final game of the friendly tournament. 

Midfielder Katrina Gorry said after a strong performance in this tournament, the Matildas were setting themselves to mount a World Cup challenge.

"I think we've really proved what we're about leading into the World Cup," she said.