Enables phosphate ion binding activity; signaling receptor binding activity; and transmembrane receptor protein tyrosine phosphatase activity. Involved in several processes, including homophilic cell adhesion via plasma membrane adhesion molecules; negative regulation of signal transduction; and regulation of cell projection organization. Located in several cellular components, including excitatory synapse; growth cone; and neuronal cell body. Is integral component of postsynaptic density membrane. Biomarker of obesity. Human ortholog(s) of this gene implicated in hyperinsulinism. Orthologous to human PTPRF (protein tyrosine phosphatase receptor type F). [provided by Alliance of Genome Resources, Apr 2022]