We investigate an optically trapped exciton-polariton condensate and observe temporal coherence beyond 1~ns duration. Due to the reduction of the spatial overlap with the thermal reservoir of excitons, the coherence time of the trapped condensate is more than an order of magnitude longer than that of an untrapped condensate. This ultralong coherence enables high precision spectroscopy of the trapped condensate, and we observe periodic beats of the field correlation function due to a fine energy splitting of two polarization modes of the condensate. Our results are important for realizing polariton simulators with spinor condensates in lattice potentials.
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