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PostgreSQL do have a variable unlimited length datatype : text. AFAIK, Varchar is internally a subtype that bound the text type. So in extreme situations you might even get a very slight performance advantage using text instead of varchar.

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This is exactly how it is. You can find confirmation in Postgres docs [1]

[1] https://www.postgresql.org/docs/9.1/datatype-character.html

Interesting. When is there an advantage of using varchar in postgres, other than limiting the field length?

I think never, except if you want your SQL to be portable to other dbs.

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