<p>The volatility in Chinese commodity futures markets has raised concerns about price bubbles and their contagion phenomena. This study explores these contagion phenomena from the novel perspective of futures-level sentiment contagion. It confirms the presence of commodity futures price bubble contagion by using a seemingly unrelated regression model and analyses their time-varying characteristics by using the time-varying parameter vector autoregressive DY (TVP-VAR-DY) model. A two-layer network framework is employed to highlight the significant superposition effect between futures-level sentiment contagion and contagion of these bubbles. Our findings also demonstrate the positive role of futures-level sentiment contagion in the contagion of commodity futures price bubbles. Moreover, optimistic and pessimistic futures-level sentiment contagion have distinct impacts, and a quantile-on-quantile regression analysis shows that these impacts vary across different quantiles. Notably, during crisis periods, such as the COVID-19 pandemic, the impact of futures-level sentiment contagion shifts from significantly positive to significantly negative. Additionally, while futures-level sentiment contagion significantly amplifies the short-term contagion of commodity futures price bubbles, it has an insignificant long-term impact. Overall, this study provides robust evidence of the substantial influence of futures-level sentiment contagion on the contagion of commodity futures price bubbles.</p>