The subwavelength array of quantum emitters provides an ideal platform for exploring rich many-body dynamics, such as super- and subradiance. In this paper, we explore the dynamics of spin wave exchange between two dipole-coupled atomic ring arrays. Subradiant spin waves lead to low-loss and high efficiency of ring-to-ring transfer. The optimal subradiant spin wave exchange occurs at appropriate separations between coplanar rings, despite the fact that the energy transfer efficiency is monotonically enhanced (in the regime ) as the rings’ separation decreases. However, the spin wave will scatter due to the dephasing mechanism of close-by atom pairs, as the separation of two rings is too small. With the increase in the number of atoms on the ring, the subradiant shielding effect also strengthens, leading to a shorter distance for the transfer of spin waves. We investigate the rotation of one of the rings and find that the optimal spin wave exchange corresponds to the scenario where the line connecting the two nearest atoms of the two rings aligns with the center of the circle. Moreover, we study the influence of transition dipole moment orientations on the effective interaction between two atomic rings. We observe that there is a critical point where the effective interaction strength changes dramatically owing to the cooperative effect of the subwavelength atomic array. We believe that our results could be important for quantum information processing based on atomic arrays.