This article presents a baseband data compensation method that utilizes a 3-port Balun de-embedding technique to accurately measure the RF parameters of transceiver chips, including noise figure and nonlinear characteristics. This study explores the theoretical derivation of the 3-port Balun de-embedding algorithm, the design of calibration components, and the baseband data compensation algorithm. The S-parameters of the Balun are derived using an optimized TRL de-embedding algorithm, and then the baseband data compensation algorithm is applied to correct the amplitude. Experimental results conducted on a PCB demonstrate that this method significantly improves the accuracy of RF parameter measurements, providing technical support for enhancing the performance of programmable RF transceivers. The proposed method not only enhances the accuracy of RF chip testing but also provides new insights and technical approaches for future research in related fields.