Enables signaling receptor binding activity. Involved in several processes, including adherens junction organization; positive regulation of cardiac muscle cell differentiation; and regulation of postsynaptic neurotransmitter receptor internalization. Acts upstream of or within several processes, including negative regulation of keratinocyte proliferation; positive regulation of aorta morphogenesis; and vasculature development. Located in Schaffer collateral - CA1 synapse; glutamatergic synapse; and plasma membrane. Is integral component of postsynaptic density membrane. Is expressed in several structures, including alimentary system; brain; cardiovascular system; sensory organ; and urinary system. Orthologous to human EFNB2 (ephrin B2). [provided by Alliance of Genome Resources, Apr 2022]