The BeiDou Navigation Satellite System (BDS-3) has officially provided services worldwide since July 2020. BDS-3 has added new signals for B1C, B2a and B2b based on old BDS-2 B1I and B3I signals, which brings opportunities for achieving high-precision time transfer. In this research, the BDS-3/BDS-2 combined penta-frequency common-view (CV) single-differenced (SD) precise time transfer model is established with B1I, B3I, B2I, B1C, B2a and B2b signals, including dual-, triple-, quad- and penta-frequency (abbreviated as DF, TF, QF and PF) ionosphere-free (IF) combination CV SD models. Taking four long baseline time links (from 637.6 km to 1331.6 km) as examples, the accuracy and frequency stability of the BDS-3/BDS-2 combined DF, TF, QF and PF SD time transfer models were evaluated. The experimental results show that the frequency stability of the TF, QF and PF SD models were improved by 2.5%, 5.3% and 8.5%, on average, over the DF SD model. Compared with the traditional DF (B1I/B3I IF combination) SD model, the standard deviation (STD) of the multi-frequency SD model was reduced by 5.9%, on average, and the frequency stability was improved by 4.0% on average, which had the most apparent effect on the improvement of short-term frequency stability. Specifically, the DF1 (B1C and B2a DF IF combination), TF1 (B1C, B2a and B2b TF IF combination), QF1 (B1C, B1I, B2a and B2b QF IF combination) and PF4 (B1C, B1I, B2a, B2b and B3I PF IF combination) SD models had better performance in timing, and the PF4 SD model had the best performance. Considering that the PF4 (one PF signal IF combination) SD model does not require an estimated inter-frequency bias and that its noise factor is minor compared with the PF1 (four DF signal IF combination), PF2 (three TF signal IF combination) and PF3 (two QF signal IF combination) SD models, we recommend the PF4 SD model for multi-frequency time transfer and the use of the PF2, PF2 or PF3 SD model to supplement the PF4 SD model in cases of penta-frequency observation loss.
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