Streams and groundwaters often show daily cycles in response to snowmelt and evapotranspiration. These typically have a roughly 6 h time lag, which is often interpreted as a travel-time lag. Here we show that it is instead primarily a phase lag that arises because aquifers integrate their inputs over time. We further show how these cycles shift seasonally, mirroring the springtime retreat of snow cover to higher elevations and the seasonal advance and retreat of photosynthetic activity.