Clearly right now nobody knows anything. 8 days until pitchers and catchers.
Granted the Phillies do a pretty good job of keeping out of the rumor mill, I know it was reported that they'd asked about Darvish, but they don't seem like one of the three or four active teams to me (the original six clubs were Rangers, Yankees, Cubs, Twins, Astros and a mystery team, which may have been the Dodgers, and then the Brewers are reportedly the team that made him an offer (which may not exist anymore after they took on all that other payroll). Obviously the Astros are out and there's still reason to think NY and LA can't make it happen.
But, if he does have a five-year deal on the table, how high would the Phillies have to go on a four- year deal to get him? That's also assuming the team offering him the five-year deal can't offer something else the Phillies can't (i.e. immediate contention or a 10-minute commute from his year-round home).
Arietta is the guy the Phillies have been mentioned with more often because of the Orioles history. And he does make me nervous. 3.8 WAR in 2016, 2.4 in 2017. Even if he bounces back this year is it worth the compensation (of all kinds) if he's only a 1.5 pitcher in 2020 and 2021? If that, should injury or a dramatic decline occur.
I think the Phillies would still prefer the trade for a younger guy but that market is tougher. And they're not ready to open the season with Kingery even if Hernandez and an OF could actually get you someone.