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The fastest time ever run in the Derby ( at its present distance ) was set in 1973 at 1 minute 59 2 / 5 seconds when Secretariat broke the record set by Northern Dancer in 1964.
Not only has Secretariat's record time stood for 39 years and counting, but in the race itself, he did something unique in Triple Crown races: each successive quarter, his times were faster.
Though times for non-winners were not recorded, in 1973 Sham finished second, two and a half lengths behind Secretariat in the same race.
Using the thoroughbred racing convention of one length equaling one-fifth of a second to calculate Sham ’ s time, he also finished in under two minutes.
Another sub-two-minute finish, only the third, was set in 2001 by Monarchos at 1: 59. 97.

2.557 seconds.