Systems and methods are described for determining a phase measurement difference between a received modulated signal and a local clock signal. An adjusted local clock phase measurement may be determined by subtracting, from the phase measurement difference, a phase correction that is based on the frequency difference between the modulator signal's carrier frequency and the local clock's frequency. A phase modulation value may be generated by scaling the adjusted local clock phase measurement. The scaling may be based on a ratio of the modulated signal's carrier frequency and the local clock's frequency. The phase correction may be based on (i) a count of periods of the modulated signal occurring between each corrected phase measurement and (ii) a difference between the carrier frequency and the local clock frequency.