A test and measurement instrument for extracting waveforms from a differential transmission line without disrupting the differential transmission line. The test and measurement instrument includes a first input configured to receive a voltage waveform from a voltage probe electrically coupled to the first and second lines of the differential transmission line that electrically connect a first device and a second device, a second input configured to receive a current waveform from a current probe coupled to the differential transmission line, and one or more processors configured to receive the voltage waveform and the current waveform and determine a voltage of the first device and a voltage of the second device based on the voltage waveform and the current waveform.