Yes, overlays in some form are required. Their base addresses can be swapped.
Example:
INCLUDEPATH "$\inc\"
INCLUDE "Console.inc"
macro refswap(a,b)
scope
let _a=@b
@b=@a
@a=_a
end scope
end macro
float as1[100],as2[100] 'STATIC ARRAYS
float *ar1=@as1,*ar2=@as2 'ARRAYS BYREF
'TEST
ar1[5]=1.25
printl ar1[5] " " ar2[5]
refswap(ar1,ar2)
printl ar1[5] " " ar2[5]
waitkey