Make the pesto dip by adding all of the ingredients except the oil to a blender and mixing on high speed.
Slowly pour in the olive oil and blend until smooth. Set aside.
Take handfuls of the grated zucchini and squeeze it as hard as you can in your hands to extract the water, saving a small amount in a bowl for the dip.
Transfer the squeezed zucchini to a bowl.
In a large pan, heat the olive oil and add the grated zucchini, diced onion and garlic for about 5 minutes over a medium-high heat.
Remove from heat.
Add 3 tablespoons of the flour to another large bowl with the eggs and whisk together until a lump free batter forms.
Add the zucchini mixture to the batter with the feta, basil and chili.
Season with salt and black pepper and add the remaining 3 tablespoons flour and mix.
Heat enough canola oil in a pan, about 1/2 inch deep until hot.
Using a quarter cup measure as your guide, scoop some of the batter into the hot oil and cook for about 3 minutes or until golden brown.
Turn the zucchini pancakes over and repeat until they're firm enough to handle with a spatula.
Transfer the pancakes to a sheet of paper towel to drain.
Serve with some of the pesto dip on the side and garnish with extra feta cheese and basil.