A half-sister to last year's Group I BRC Queensland Oaks winner Youngstar, who is also trained by Waller, Funstar had shown plenty of promise in recent trials and made a winning debut at Canterbury earlier this month.
Ridden by Jay Ford in this tougher 1200 metre assignment, she started favourite, but did not have an easy run from barrier one finding herself trapped on the fence.
Halfway down the straight, Funstar finally got clear running and hit the line hard to win by a half neck.
"When the draw came out, I thought barrier one could be the only sticking point and it was but she proved she was good enough to overcome it," Ford said.
"I had my first sit on her last week at trackwork and she gave me the feel of a very talented racehorse.
"I'm glad I got to experience a sit on her because when you get an idea what's under the bonnet it gives you the confidence to let the race unfold and not force the issue.
"It was a very slowly run race and I had a lap full of horse but I had to wait for something to happen.
"Fortunately, a little gap opened up back to the inside, she dragged me into it, darted through and really attacked the line.
"Even though the margin wasn't great, it was a dominant win I can assure you."
Funstar was purchased for $80,000 from the Bowness Stud draft at Inglis Easter by Anton Koolman Bloodstock, who also purchased Youngstar and has many of the same owners involved again, who will be hoping for similar success as her career unfold next season over longer journeys.
"She's so professional," Ford added. "A very bright future ahead.
"I haven't ridden two many two-year-olds that have the desire like she does to be a racehorse.
"The best is ahead of her, she's capable of going to another level when she gets out over ground."
Funstar is a half-sister to not only Youngstar, but also stakes-placed Eleven Seconds and is from blue-blooded Danehill import Starspangled (IRE), a daughter of Champion 3YO Filly and five time Group I winner User Friendly. Starspangled was back at Coolmore last spring and is now in foal to Pierro.
Funstar is a top class prospect for her Cox Plate winning sire Adelaide, who has had a winner and two place-getters from just five first crop runners to date.
A brilliant son of the world's best sire Galileo, Adelaide stands at the modest fee of $11,000 at Coolmore this spring and has been well supported in his first four seasons covering over 400 mares.