Fwiw I no longer use disk swap files for anything, but ZRAM swap instead. It's mature, it's in the linux kernel, it's faster, and less wearing on SSDs, and RAM is cheap. I don't have a linux laptop though, so don't know how it affects hibernation. Anyone know how/if hibernation works on a laptop using ZRAM swap instead of disk-based swap?
ZRAM is not swap.
ZRAM uses the same OS interface as swap does, and that interface is called "swap" but really is more about composing system memory out of tiered backing memory. One of those tiers can be swap.
With ZRAM and no swap, all your system memory is volatile. As long as Linux requires nonvolatile system memory to hibernate, it will be impossible to hibernate in this setup.