The gold standard (in my experience) for latency measurement is setting up a packet splitting, marking your outbound packets with some hash/id of the inbound packet, taking hardware timestamps of all these on some dedicated host, and putting it all together after the fact. Ultimately packet-in to packet out is all the matters anyways

You can actually get pretty solid internal timestamps (how long did I take to fully process event X) with TSC counters, but you then have a coordinated omissions problem: https://www.programmingtalks.org/talk/how-not-to-measure-lat...