I assume you are looking at the antifungal activity of the metablite produced by the bacteria.
As most metabolites are produced in the log phase, it would be useful to use a culture in this stage of the life cycle, and thus, you should maintain the optical density.
It will be useful to know the bacteria and fungal strain that you are using and also whether you are looking at inhibiting fungal colony growth or spore germation. This will help to provide a more informative anwer to your question.
That very much depends on your bacterium; some are fast growing, others are not.
You will need to carry out a growth curve experiment using your chosen bacterium at the desirable temperature in the appropriate medium and conditions to determine the log phase.