In one example, a circuit for controlling a multi-phase converter is configured to determine an operating condition at a multi-phase converter module. Each phase switching module of a plurality of phase switching modules is configured to electrically couple, based on a respective switching signal, a voltage source to a respective phase of the multi-phase converter module. The circuit is further configured to, for each switching signal, generate an operating value using the operating condition and determine a dynamic hysteresis value for a next switching period using a duration of a previous switching period and a phase shift. The circuit is further configured to, for each switching signal, compare the operating value to a reference value with a hysteretic comparator function using the dynamic hysteresis value and generate the respective switching signal based on the comparison of the operating value to the reference value.