It also doesn't sound like a particularly good idea on BTRFS, judging by the linked documentation:
BTRFS in general seems more I/O constrained than ext4 or xfs so it's probably still worse to put a swapfile on a BTRFS partition, but so far my systems are doing fine.
AFAIK, on Linux swap bypasses the filesystem. It asks the filesystem for the extents which are used by the swapfile, and does the I/O directly on the block device. This explains the many restrictions swapfiles have on btrfs (the file can't be copy-on-write, can't be mirrored, etc), but it also means the speed for a swapfile will be the same on btrfs as on ext4 or xfs (assuming a similar layout, that is, the file is not too fragmented; IIRC, the kernel prints the number of extents when you do a swapon, so you can see when it's too fragmented).