A dental handpiece uses a single airflow input to drive both a rotor and provide a hydrostatic bearing. The fluid flow in the form of compressed air is applied first to the hydrostatic bearings and then subsequently to the turbine blades of the rotor without the use of any moving mechanical parts by the design of the air passageway being more direct for the hydrostatic bearing. This passageway is the form of a manifold insert which may be mounted within the handpiece. The handpiece includes a pair of frusto-conical cages separated by a C-shaped spacer which enables precise fabrication. The frusto-conical ends of the rotor and the mating frusto-conical inner surfaces of the cages are provided with a diamond like carbon coating.