In the Ebbinghaus illusion, a circle surrounded by smaller circles is perceived as larger than an identical one surrounded by larger circles. The illusion is reportedly weaker in individuals with (disorganized) schizophrenia or schizotypy than in controls, a finding that has been interpreted as evidence that both schizophrenia and schizotypy involve reduced contextual integration. In support of this view, we show that the Ebbinghaus illusion also decreases, in the general population, with cognitive-perceptual schizotypal traits (measured with both the cognitive-perceptual subscale of the Schizotypal Personality Questionnaire-Brief and the Magical Ideation scale). Our results were strong and separately replicable in different within-subjects and between-subjects conditions. However, a mediation analysis revealed that the reduction of the Ebbinghaus illusion was (statistically, hence without implying a causal relationship) entirely due to increased judgment time, i.e., the time subjects took to complete size comparisons. Judgment time increased with the strength of cognitive-perceptual schizotypal traits, but subjects with longer judgment times had smaller illusions regardless of these traits. We argue that there are at least two possible accounts of our results. Reduced contextual integration might be due to a reduced ability to integrate context, as previously suggested; alternatively, it could be due to a reduced tendency to integrate context—that is, to a detail-oriented processing style. We offer predictions for future research, testable with a deadline experiment that pits these two accounts against one another. Regardless of which account proves to be best, our results show that contextual integration decreases with cognitive-perceptual schizotypal traits, and that this relationship is mediated by judgment time. Future studies should thus consider either manipulating or measuring this time.