Disclosed is a system and method for improving the linearity of a clock and data recovery (CDR) circuit. In one embodiment, a data stream is received, and the phase of a clock signal is adjusted using two interpolators. The phase of the output signal of the second interpolator is adjusted simultaneously with, and complementary to, adjusting the phase of the first interpolator. The first interpolator's output signal is injected into a first delay cell in a delay loop having a plurality of delay cells, and the output of the second interpolator is inactivated. When the maximum phase of the first interpolator's output signal is reached, the second interpolator's output signal is injected into another one of the delay cells, and the first interpolator's output signal is inactivated. The data stream is then recovered using the output of the delay loop as a clock signal.