A field study (n = 61) was performed in a Via Ferrata to explore how affective response influences time perception during an arousing activity in a real‐life setting (passing through a 69‐m‐long, 20‐m‐high, two‐rope bridge). Two questionnaires were administered (i) at the end point of the bridge (high‐arousing condition) and (ii) close to the end of the Via Ferrata (low‐arousing condition). Participants assessed their affect (arousal, valence, and dominance) and provided retrospective (duration estimation and passage of time judgments) and prospective (to produce a subjective minute using a stopwatch) temporal judgments. The results showed that the actual performance mediated the relationship between affect and retrospective time perception measures, with the exception of dominance, which directly predicted passage of time judgments. Regarding prospective measures, an increase in arousal was parallel to shorter temporal productions. The results are discussed in terms of the emotional factors underlying time perception in ecological contexts.Copyright © 2017 John Wiley & Sons, Ltd.