Existing timing error models for voltage-scaled functional units ignore the effect of history and correlation among outputs, and the variation in the error behavior at different bit locations. We propose b-HiVE, a model for voltage-scaling-induced timing errors that incorporates these attributes and demonstrates their impact on the overall model accuracy. On average across several operations, b-HiVE's estimation is within 1-3% of comprehensive analog simulations, which corresponds to 5-17x higher accuracy (6-10x on average) than error models currently used in approximate computing research. To the best of our knowledge, we present the first bitlevel error models of arithmetic units, and the first error models for voltage scaling of bitwise logic operations and floating-point units.