Enables FK506 binding activity; peptidyl-prolyl cis-trans isomerase activity; and transmembrane transporter binding activity. Involved in negative regulation of heart rate; regulation of cytosolic calcium ion concentration; and regulation of release of sequestered calcium ion into cytosol. Acts upstream of or within several processes, including insulin secretion; negative regulation of insulin secretion involved in cellular response to glucose stimulus; and neuronal action potential propagation. Located in sarcoplasmic reticulum membrane. Part of calcium channel complex. Is expressed in nervous system and testis. Used to study catecholaminergic polymorphic ventricular tachycardia. Human ortholog(s) of this gene implicated in Graves' disease. Orthologous to human FKBP1B (FKBP prolyl isomerase 1B). [provided by Alliance of Genome Resources, Apr 2022]