Currently, long baselines generally adopt phase-code models that include both phase and pseudorange observations, such as dual-frequency ionosphere-free (PC-DFIF) and multi-frequency uncombined (PC-MFUC) models. The more significant unmodeled errors in pseudorange are likely to reduce ambiguity resolution (AR) performance, and the phase-only model with only phase observations involved is expected to avoid this problem. In view of the fact that existing phase-only research is mainly focuses on GPS/BDS-2 triple-frequency signals, a BDS-3/Galileo multi-frequency phase-only (MFPO) model is proposed in this paper. Four linearly independent extra-wide-lane (EWL) phase ranges (i.e. IR1, IR2, EWL3 and EWL4) are determined stepwise with a sliding window, among which the first two belong to ionosphere-reduced (IR) combination. In the determination of EWL3/EWL4, in addition to theoretical precision, the amplified phase multipath is also considered. The aforementioned four EWL phase ranges are then equivalently transformed to wide-lane (WL) combinations with smaller coefficients, and further incorporated with narrow-lane (NL) equation to construct MFPO model. Meanwhile, the best integer equivariant (BIE) is introduced to improve AR performance. The MFPO model is evaluated with real-tracked long baseline data. The performance of EWL phase ranges can be significantly improved after phase multipath is considered. The float solution, fixed solution and BIE solution of MFPO model all achieve centimeter-level accuracy. However, during convergence stage, incorrect fixing might exist in fixed solution, while BIE solution can improve this situation. The MFPO model is further compared with commonly used PC-DFIF and PC-MFUC models. The accuracy of the three models after convergence is basically the same, while the MFPO model has higher accuracy during convergence stage.