When talking about magnetism and the interaction of spins, the most basic model seems to be the Heisenberg model with an interaction of the form $ -J \vec{S}_1\cdot \vec{S}_2$. The origin of the contribution seems to be coming from the exchange interaction, where the Coulomb matrix element $\langle \phi_a^{(1)} \phi_b^{(2)} | V| \phi_a^{(2)} \phi_b^{(1)} \rangle = \int d^3 r \int d^3 r^\prime \varphi_a^\ast(\vec{r}) \varphi_b^\ast(\vec{r}^\prime) V(\vec{r}-\vec{r}^\prime) \varphi_b(\vec{r}) \varphi_a(\vec{r}^\prime) \delta_{s_1 s_2}$ gives a contribution only for parallel spins, introducing an energy shift between parallel and antiparallel spins.
My question is now if this is the only way that spins interact or at least why this is the only interaction mechanism I can find information about. Can spins also interact directly, for example since one spin induces a magnetic field that interacts with the other spins magnetic moment? Would this also lead to a contribution $\propto \vec{S}_1\cdot \vec{S}_2$? If so, how could one calculate the interaction strength? Is this just much smaller than the exchange energy and therefore neglected? Where can I find more about this in literature? Thank you in advance!