diff --git a/fs/btrfs/inode.c b/fs/btrfs/inode.c
index b044b1d910de..54b607a3cc3f 100644
--- a/fs/btrfs/inode.c
+++ b/fs/btrfs/inode.c
@@ -9702,8 +9702,14 @@ static int btrfs_rename_exchange(struct inode *old_dir,
 	bool root_log_pinned = false;
 	bool dest_log_pinned = false;
 
-	/* we only allow rename subvolume link between subvolumes */
-	if (old_ino != BTRFS_FIRST_FREE_OBJECTID && root != dest)
+	/*
+	 * For non-subvolumes allow exchange only within one subvolume, in the
+	 * same inode namespace. Two subvolumes (represented as directory) can
+	 * be exchanged as they're a logical link and have a fixed inode number.
+	 */
+	if (root != dest &&
+	    (old_ino != BTRFS_FIRST_FREE_OBJECTID ||
+	     new_ino != BTRFS_FIRST_FREE_OBJECTID))
 		return -EXDEV;
 
 	/* close the race window with snapshot create/destroy ioctl */