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First, all phased-in permanents with phasing that the active player controls phase out, and all phased-out permanents that the active player controlled when they phased out phase in. This all happens simultaneously. This turn-based action doesn’t use the stack. See rule 702.26, “Phasing.”

A permanent phased out this way doesn’t phase in as a result of the turn-based action during a player’s untap step (see rule 502.1). Other effects may cause it to phase in. If a permanent phased out this way phases in due to another effect, the second one-shot effect doesn’t happen, even if that permanent has phased out again.

Immediately after the untap step begins, all phased-in permanents with phasing that the active player controls phase out, and all phased-out permanents that the active player controlled when they phased out phase in. This all happens simultaneously. See rule 502.1.