Balthazar Faction

Hi I wanted to ask about Balthazar Faction. I know that you can earn up to 2000 BF from Training Arena, Zaishen Challenge and Zaishen Elite every 24 hours. My questions is whether the 24 hour thing resets at a certain time everyday or if it depends on exactly when your character last fought?

Thanks in advance.

Last time you fought, I think. The last thing I did for the night was go do the Elite thing for 2000, but when I got on the next morning to do it again, I wasn't getting any faction.
That or I just wasn't paying attention.