It's ON! The two queens of rap lost their sh*t last night at the Harper's Bazaar New York Fashion Week party and almost threw down in the lobby of the event!

Tons of videos posted online show Cardi, wearing a red dress, lunging at Nicki before eventually throwing her show at the "Fefe" rapper. Cardi was later snapped with a huge bruise above her left eye which Variety reports was the result of an elbow from one of Minaj's security guards.

Another report says when Cardi approached Nicki's tagble, she wanted to "address the lies Nicki was spreading," according to TMZ. At that point, Minaj's security guard elbowed Cardi and that was it! Fight ensued. Cardi said, "Let me tell you something," as she went for Nicki but when security stopped her, she yanked off her shoe and threw it at Minaj. TMZ said Nicki didn't even flinch ...

The New York Police Department is investigating the incident.

Cardi posted a message to Nicki on Instagram saying, "I've let a lot of sh*t slide! I let you sneak diss me, I let you lie on me ... But when you mention my child, you choose to like comments about me as a mother, make comments about my abilities to take care of my daughter is when all best are f*ckin off!"

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PERIOD.

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