This paper explores the link between the metaphoric structure TIME IS SPACE and time perception in bilinguals. While there appear to be fundamental commonalities in the way humans perceive and experience time regardless of language background, language-specific spatiotemporal metaphors can give rise to differences between populations, under certain conditions. Little is known, however, about how bilinguals experience time, and the specific factors that may modulate bilingual temporal processing. Here, we address this gap by examining L1 Spanish – L2 Swedish bilinguals in a psychophysical task. Results show that duration estimation of dynamic spatial configurations analogous to L2-specific temporal metaphors is modulated by L2 proficiency. In contrast, duration estimation of spatial configurations analogous to the L1 metaphorical expressions appears to be modulated by the age of L2 acquisition. These findings are discussed in terms of associative learning and cognitive restructuring in the bilingual mind.