A method and apparatus is provided for on-the-fly calibration of and correction for time interleave error, including generation of correction data associated with an interleave corrector employed by a system for converting a time-domain input stream, corresponding to samples acquired from an interleaved system of digitizers having impairment due to interleave mismatch, to a time-domain output stream. The method includes determining at least one time-domain acquisition segment; determining at least one frequency-domain acquisition segment; determining at least one frequency-domain block acquisition segment, whereby the frequency-domain block acquisition segment comprises a block of tone values; determining the suitability of the frequency-domain block acquisition segment for use in the generation of adjusted correction data; determining a block dominant tone segment from the frequency-domain block acquisition segment; and determining a block impairment transfer column vector in accordance with the block dominant tone segment and the frequency-domain block acquisition segment.