On USB power: It goes into sleep mode after 15 minutes after playback of music has stopped (all digital inputs).
On battery power: It goes into sleep mode after 3 minutes after playback of music has stopped (all digital inputs).
It will wake up within 1 second of receiving a valid signal on any given input or of the headphones being connected. Sleep mode powers down the DAC, analogue stages, and the headphone amplifier stage.