watermark has 1 distinct synonym spread across 1 of its 2 senses. Each sense below keeps its own list, because a synonym belongs to a meaning and not to a word: swapping one sense's substitute into another sense's sentence is how a thesaurus makes writing worse. WordNet records no antonym for it — antonymy is a relation between word forms rather than concepts, so it is deliberately sparse.
Counts are distinct word forms across every sense. A synonym that appears under three senses is counted once here and shown three times below, under each sense it belongs to.
a line marking the level reached by a body of water
a distinguishing mark impressed on paper during manufacture; visible when paper is held up to the light
Synonyms, antonyms and the broader and narrower relations for watermark come from Princeton University’s WordNet. Full sources and licences.