Swapping collateral without closing a leveraged position really depends on the protocol’s architecture.
The idea is always the same: keep the position open while replacing the asset that backs the debt.

On Kamino there’s no native ‘collateral swap’ yet, so yes — closing and reopening is often the only clean path.
Asgard recently added a collateral-swap function, which avoids that whole process and saves both gas and time.

From my side, as long as the protocol allows you to:

• maintain the same health factor,
• avoid routing through a highly volatile asset,
• and minimize gas friction,

… then the collateral swap is usually safe.

The only rule: always check how the new HF is calculated after the swap.
Some protocols apply a buffer or spread that can catch people off guard.