The Surface Water and Ocean Topography (SWOT) mission was launched on 16 December 2022 to measure water levels over both open ocean and inland waters. To achieve these objectives, the SWOT Payload contains an innovative Ka-band radar interferometer, called KaRIn, completed with a nadir altimeter called POSEIDON-3C that was switched on a month after launch and a few days before KaRIn. POSEIDON-3C measurements provide a link between large-scale phenomena and high resolution. The POSEIDON-3C design is based on POSEIDON-3B, its predecessor on board JASON-3. It is also a dual-frequency radar altimeter operating in C- and Ku-bands, but with some improvements to enhance its performance. Even though it is a Low Resolution Mode altimeter, its performance over open ocean, inland waters and coastal zones are indeed excellent. This paper first describes the POSEIDON-3C design and its modes with a focus on its new features and the Digital Elevation Model that drives its open-loop tracking mode. Then, we assess the in-flight performances of the altimeter from an instrumental point of view. For that purpose, special and routine calibrations have been realized. They show the good performance and stability of the radar. In-flight assessments thus provide confidence when it comes to ensuring excellent altimeter measurement stability throughout the mission duration.