The expected acceleration in sea level rise (SLR) throughout this century poses significant threats to coastal cities and low-lying regions. Since the early 1990s, high-precision multi-mission satellite altimetry (SA) has enabled the routine measurement of sea levels, providing a continuous 30-year record from which the mean sea level rise (global and regional) and its variability can be computed. The latest reprocessed product from CMEMS span the period from 1993 to 2020, and have enabled the acquisition of accurate sea level data within the coastal range of 0–20 km. In order to fully utilize this new dataset, we establish a global virtual network consisting of 184 virtual SA stations. We evaluate the impact of different stochastic noises on the estimation of the velocity of the sea surface height (SSH) time series using BIC_tp information criterion. In the second step, the principal component analysis (PCA) allows the common mode noise in the SSH time series to be mitigated. Finally, we analyzed the spatiotemporal characteristics and accuracy of sea level change derived from SA. Our results suggest that the stochasticity of the SSH time series is not well described by a combination of random, flicker, and white noise, but is best described by an ARFIM/ARMA/GGM process. After removing the common mode noise with PCA, about 96.7% of the times series’ RMS decreased, and most of the uncertainty associated with the computed SLR decreased. We confirm that the spatiotemporal correlations should be accounted for to yield trustworthy trends and reliable uncertainties. Our estimated SLR is 2.75 ± 0.89 mm/yr, which aligns closely with recent studies, emphasizing the robustness and consistency of our method using virtual SA stations. We additionally introduce open-source software (SA_Tool V1.0) to process the SA data and reduce noise in surface height time series to the community.
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