According to the Tirthankaras and Jain philosophy, time and space are both real substances (dravya) in the universe.

Relation between time and space in Jainism

• Space (ākāśa) is the substance that gives room to all other substances.
• Time (kāla) is the substance that helps change, motion, and transformation to be understood.
• Both are beginningless and endless.
• They are not the same, but both are part of the six dravyas in Jainism.

Simple understanding

• Space is like the vast field in which everything exists.
• Time is the factor through which things change from one state to another.
• Without space, nothing could be placed anywhere.
• Without time, no change, age, action, or sequence could be experienced.

In Jain view

The universe is made of:

1. Jiva — soul
2. Pudgala — matter
3. Dharma — medium of motion
4. Adharma — medium of rest
5. Ākāśa — space
6. Kāla — time

So, space contains all realities, and time marks their change and continuity.

Spiritual meaning

For the Tirthankaras, this teaching shows that the universe functions by its own eternal laws, not by chance. Understanding time and space helps a seeker realize the nature of impermanence, transformation, and the eternal soul.

If you want, I can also explain this according to Digambar and Shwetambar views.