Collingwood has hung on for a heart-stopping three-point win in club legend Scott Pendlebury's 400th game with Carlton defender Mitch McGovern missing a shot after the siren.

Leading by 32 points early in the last quarter, the Magpies had to withstand a late onslaught from their bitter rivals in a Saturday night classic in front of 86,879 fans at the MCG.

Carlton booted the final five goals, but it wasn't enough as the Magpies saluted 12.12 (84) to 11.15 (81) to keep their premiership defence alive.

McGovern had the chance to give the Blues one of their greatest-ever victories when he pushed forward to mark the ball about 45m from goal.

But while he kicked a similar goal for Adelaide to draw a game against Collingwood at the same venue in 2017, this time he sprayed the ball out on the full.

Fielding their strongest team for months, the Magpies recaptured close to their best form to pay tribute to Pendlebury becoming  the sixth VFL/AFL player to reach 400 games.

Pendlebury, who during the week announced he would continue on next year for a 20th season, was brilliant in his milestone match, gathering 27 possessions and nine clearances.

The former long-term captain came close to a highlight for the ages, hitting the post after snapping a shot from the pocket in the first quarter.

"It's a bit surreal, to be honest," Pendlebury told Seven after the match.

"This whole week I've felt the love from all angles. Everyone's been so nice and kind with all the messages.

"It means the world to play with this jumper on my back.

"A lot of luck goes my way. I've had some great coaches, great support networks around me, you don't get here by yourself."

Carlton captain Patrick Cripps put in a final-quarter for the ages, almost lifting the Blues to victory by himself as he continually charged out of the centre clearances.

If Collingwood are to book a finals berth they will likely need to do it without star playmaker Jordan De Goey, who hobbled off late in the third quarter with a hamstring injury.

De Goey has been managing a groin issue for months and sat out last Sunday's win against Richmond.

But the premiership star looked back to his supreme best, booting two goals in a lively performance before he limped off the field.

Carlton midfielder Adam Cerra suffered his third hamstring injury for the season when he was subbed out in the second quarter, replaced by Matt Kennedy.

The Blues were forced to play with just three on the bench in the final term after Matthew Cottrell hurt his shoulder.

After sitting 2nd a fortnight ago, Carlton's fourth defeat from their last five matches leaves them clinging to a finals spot. They could finish the round as low as eighth.

With three games to go, Collingwood sit 10th and only a game outside the top-eight.

Collingwood's Form

The Pies, as you would expect in Scott Pendlebury’s 400th game, are giving great effort, to a level we have not seldom seen in the past six weeks.

The pressure on the ball has given their defence extra cover, though Charlie Curnow and Harry McKay have both taken marks inside 50 but wasted their opportunities.

Carlton's Momentum

Coming into today, five teams were on 48 competition points.

All that split them was percentage.

Hawthorn lurks on 44 points.

Percentage could decide who plays finals come the end of the regular season.

Coming into this game, Port's percentage was 106.7 — the lowest of the teams with 48 points.

They now have a percentage of 113.6, the second-best of the aforementioned five teams.

This is a massive win for their season. Port are now second on the ladder.

A Thrilling Finish

COLLINGWOOD SURVIVES A HEART-STOPPER!

The nerves get to Mitch McGovern as he absolutely SHANKS it out on the full after the siren!

What. A. Game.

Mitch McGovern has floated forward and taken a mark 45m out on a slight angle!

He will kick after the siren to win the game for Carlton.

Boundary throw-in on the wing again as Jamie Elliott fumbles.

51 seconds left.

Port Adelaide has slaughtered Sydney by 112 points to fly into the top four after holding the AFL leaders scoreless in the opening term.

The Power surged to a 71-point lead before the Swans notched their first score, eventually steamrolling to a 22.16 (148) to 5.6 (36) victory at Adelaide Oval on Saturday.

Their third consecutive win leaves Ken Hinkley's charges a chance to finish second on the ladder should results fall their way on Sunday.

Sydney, having lost five of their last six games, now lead the competition by just four points.

The loss is the biggest in John Longmire's 13-year tenure as coach.

Rubbing more salt to the wound, the Swans have also lost eight straight matches against the Power.

Port young gun Mitch Georgiades and Willie Rioli both kicked four goals, while Willem Drew kept Swans ball magnet Chad Warner to just 19 touches.

Drew also led the game with 32 disposals, well supported by Ollie Wines, Zak Butter and Jason Horne-Francis.

The hosts, eager to celebrate defender Aliir Aliir's 150th match in style, brutally overpowered the Swans from the first bounce with seven goals to none to build an early 45-point lead.

Such was their dominance that Sydney, trailing 20 inside-50s to five, recorded a forward-half kicking efficiency of zero per cent in the opening quarter.

Darcy Byrne-Jones continued the onslaught, scoring a major just thirty seconds into the second term.