Based on my own limited experience doing long exposures (past 1s) with Instax, I'd say it has severe reciprocity failure, far worse than any negative film I've ever used. I haven't spent the film needed to quantify that rigorously, but I've seen anecdotal claims ranging as high as ten stops for pinhole exposures of a few seconds.
If you intend to pursue this seriously, plan on spending a few packs of film up front on controlled tests to come up with a guide for the kinds of scenes you typically want to photograph.