PHILADELPHIA -- The Phillies are counting every penny when it comes to payroll in 2021, which makes Friday an important day.

Friday at 1 p.m. ET is MLB’s deadline to exchange salary proposals with unsigned arbitration-eligible players. For the Phillies, that means three players -- first baseman Rhys Hoskins and right-handers Vince Velasquez and José Alvarado -- will be looking to avoid the arbitration process. It will be the first time through arbitration for Hoskins and Alvarado, but the third and final time for Velasquez, who can become a free agent after the 2021 season.

The Phillies should have a better idea about their 2021 payroll after Friday, which could impact their chances to not only re-sign J.T. Realmuto and Didi Gregorius, but also to pursue additional pitching depth.

Here is a look at each player:

José Alvarado
Alvarado made a non-prorated $573,100 last season with the Rays, but the fact that he missed so much time the past two seasons with injuries is one reason why Cot’s Contracts projects him to make a relatively affordable $800,000 in 2021.

Rhys Hoskins
Hoskins is set to receive a nice raise. He made a non-prorated $605,000 last season, but projects to make $3 million in 2021.

Hoskins’ 8.0 fWAR from 2017-20 ranks 11th among first basemen in the big leagues. He ranks ninth in on-base percentage (.366) and slugging percentage (.495). Assuming he returns to form following surgery in on his left elbow in October, Hoskins will be a critical part of the Phillies’ lineup.

Vince Velasquez
Velasquez was a non-tender candidate in December, but the Phillies’ lack of starting pitching depth and the hiring of new pitching coach Caleb Cotham convinced them to bring him back. Velasquez made a non-prorated $3.6 million in 2020. Cot’s projects him to make $4.55 million.

The Phillies could strike deals with Alvarado, Hoskins and Velasquez before Friday’s deadline. If not, they can reach agreements with them before their arbitration hearings in February, too. If it gets to a hearing, each side presents their case to a panel of three judges. The panel then chooses the team’s proposed salary or the player’s proposed salary. There is no compromise at that point.

The Phillies previously agreed to one-year contracts with their other arbitration-eligible players: right-handers Seranthony Domínguez ($727,500), Zach Eflin ($4.45 million), David Hale ($850,000) and Héctor Neris ($5 million) and catcher Andrew Knapp ($1.1 million)