Activates the small GTPases ARF1, ARF5 and ARF6. Regulates the formation of post-Golgi vesicles and modulates constitutive secretion. Modulates phagocytosis mediated by Fc gamma receptor and ARF6. Modulates PXN recruitment to focal contacts and cell migration. Binds PXN, ARF1, ARF5, ARF6, PTK2B and SRC. Colocalizes with F-actin and ARF6 in phagocytic cups. Detected in heart, brain, placenta, kidney, monocytes and pancreas. Up-regulated during monocytic maturation. The conserved Arg-464 in the Arf-GAP domain probably becomes part of the active site of bound small GTPases and is necessary for GTP hydrolysis. Phosphorylated on tyrosine residues by SRC and PTK2B.