Incorrect... space is the same distance, it's speed at which time is happening inside a 'gravity well' that is changed.
lets say you flew a spaceship above the north pole at a distance of 300 miles. Your path started 100K miles off one side of earth and ended 100K miles off the other side passing over the pole in a straight and flat line. You repeat the experiment but remove the earth. Your distance is equal, your preceived time in traversing the distance would even be equal. To an outside observer, the ship traveling past earth would be slower due to the distortions of spacetime within the gravity well. Remember, speed is a function of time, not of distance. The number of miles is irrelevant, it's how many of them you traverse in an hour that is important. More important than that is who is perceiving the passing of time.