The bistatic Interferometric Synthetic Aperture Radar (InSAR) system can overcome the physical limitations imposed by the baseline of monostatic dual-antenna InSAR. It provides greater flexibility and can enhance elevation measurement accuracy through a well-designed baseline configuration. Unmanned aerial vehicles (UAVs) equipped with bistatic InSAR, having relatively low cost and high flexibility, are useful for mapping and land resource exploration. However, due to challenges including spatiotemporal synchronization and motion errors, there are limited reports on UAV-borne bistatic InSAR. This paper proposes a comprehensive method for processing data from small UAV-borne bistatic InSAR by integrating two-way synchronization chain signals. The proposed method includes compensation for time and phase synchronization errors, trajectory refinement with synchronized chain and Position and Orientation System (POS) data, high-precision bistatic InSAR imaging, and interferometric processing. Height inversion results based on the proposed method are also provided, which demonstrate the effectiveness of the proposed method in improving the accuracy of interferometric measurement at calibration points from 0.66 m to 0.42 m.