The 1-day fast-sampling orbit phase of the Surface Water Ocean Topography (SWOT) satellite mission provides a unique opportunity to analyze high-frequency sea-state variability and its implications for altimeter sea state bias (SSB) model development. Time series with 1-day repeat sampling of sea-level anomaly (SLA) and SSB input parameters—comprising the significant wave height (SWH), wind speed (WS), and mean wave period (MWP)—are constructed using SWOT’s nadir altimeter data. The analyses corroborate the following key SSB modelling assumption central to empirical developments: the SLA noise due to all factors, aside from sea state change, is zero-mean. Global variance reduction tests on the SSB model’s performance using corrected SLA differences show that correction skill estimation using a specific (1D, 2D, or 3D) SSB model is unstable when using short time difference intervals ranging from 1 to 5 days, reaching a stable asymptotic limit after 5 days. It is proposed that this result is related to the temporal auto- and cross-correlations associated with the SSB model’s input parameters; the present study shows that SSB wind-wave input measurements take time (typically 1–4 days) to decorrelate in any given region. The latter finding, obtained using unprecedented high-frequency satellite data from multiple ocean basins, is shown to be consistent with estimates from an ocean wave model. The results also imply that optimal time-differencing (i.e., >4 days) should be considered when building SSB model data training sets. The SWOT altimeter data analysis of the temporal cross-correlations also permits an evaluation of the relationships between the SSB input parameters (SWH, WS, and MWP), where distinct behaviors are found in the swell- and wind-sea-dominated areas, and associated time scales are less than or on the order of 1 day. Finally, it is demonstrated that computing cross-correlations between the SLA (with and without SSB correction) and the SSB input parameters offers an additional tool for evaluating the relevance of candidate SSB input parameters, as well as for assessing the performance of SSB correction models, which, so far, mainly rely on the reduction in the variance of the differences in the SLA at crossover points.