diff --git a/hyperactor/Cargo.toml b/hyperactor/Cargo.toml
index 008164ec5..fece880bf 100644
--- a/hyperactor/Cargo.toml
+++ b/hyperactor/Cargo.toml
@@ -1,4 +1,4 @@
-# @generated by autocargo from //monarch/hyperactor:[channel_benchmarks,hyperactor,hyperactor-example-derive,hyperactor-example-stream]
+# @generated by autocargo from //monarch/hyperactor:[channel_benchmarks,hyperactor,hyperactor-example-channel,hyperactor-example-derive,hyperactor-example-stream]
 
 [package]
 name = "hyperactor"
@@ -13,6 +13,10 @@ license = "BSD-3-Clause"
 name = "channel_benchmarks"
 path = "benches/main.rs"
 
+[[bin]]
+name = "hyperactor_example_channel"
+path = "example/channel.rs"
+
 [[bin]]
 name = "hyperactor_example_derive"
 path = "example/derive.rs"
diff --git a/hyperactor/benches/main.rs b/hyperactor/benches/main.rs
index 9dfa03430..92b95159c 100644
--- a/hyperactor/benches/main.rs
+++ b/hyperactor/benches/main.rs
@@ -11,6 +11,7 @@
 use std::time::Duration;
 use std::time::Instant;
 
+use bytes::Bytes;
 use criterion::BenchmarkId;
 use criterion::Criterion;
 use criterion::Throughput;
@@ -18,6 +19,7 @@ use criterion::criterion_group;
 use criterion::criterion_main;
 use futures::future::join_all;
 use hyperactor::Named;
+use hyperactor::channel;
 use hyperactor::channel::ChannelAddr;
 use hyperactor::channel::ChannelTransport;
 use hyperactor::channel::Rx;
@@ -26,10 +28,18 @@ use hyperactor::channel::dial;
 use hyperactor::channel::serve;
 use serde::Deserialize;
 use serde::Serialize;
+use tokio::runtime;
 use tokio::runtime::Runtime;
 use tokio::select;
 use tokio::sync::oneshot;
 
+fn new_runtime() -> Runtime {
+    runtime::Builder::new_current_thread()
+        .enable_all()
+        .build()
+        .unwrap()
+}
+
 #[derive(Debug, Clone, Serialize, Deserialize, Named, PartialEq)]
 struct Message {
     id: u64,
@@ -62,7 +72,7 @@ fn bench_message_sizes(c: &mut Criterion) {
             group.sampling_mode(criterion::SamplingMode::Flat);
             group.sample_size(10);
             group.bench_function(BenchmarkId::from_parameter(size), move |b| {
-                let mut b = b.to_async(Runtime::new().unwrap());
+                let mut b = b.to_async(new_runtime());
                 let tt = &transport;
                 b.iter_custom(|iters| async move {
                     let addr = ChannelAddr::any(tt.clone());
@@ -106,7 +116,7 @@ fn bench_message_rates(c: &mut Criterion) {
             let rate = *rate;
 
             group.bench_function(format!("rate_{}_{}mps", transport_name, rate), move |b| {
-                let mut b = b.to_async(Runtime::new().unwrap());
+                let mut b = b.to_async(new_runtime());
                 b.iter_custom(|iters| async move {
                     let total_msgs = iters * rate;
                     let addr = ChannelAddr::any(transport.clone());
@@ -169,6 +179,66 @@ fn bench_message_rates(c: &mut Criterion) {
     group.finish();
 }
 
-criterion_group!(benches, bench_message_sizes, bench_message_rates);
+// Try to replicate https://www.internalfb.com/phabricator/paste/view/P1903314366
+fn bench_channel_ping_pong(c: &mut Criterion) {
+    let transport = ChannelTransport::Unix;
+
+    for size in [1usize, 1_000_000usize] {
+        let mut group = c.benchmark_group("channel_ping_pong".to_string());
+        let transport = transport.clone();
+        group.throughput(Throughput::Bytes((size * 2) as u64)); // send and receive
+        group.sampling_mode(criterion::SamplingMode::Flat);
+        group.sample_size(100);
+        group.bench_function(BenchmarkId::from_parameter(size), move |b| {
+            let mut b = b.to_async(new_runtime());
+            b.iter_custom(|iters| channel_ping_pong(transport.clone(), size, iters as usize));
+        });
+        group.finish();
+    }
+}
+
+async fn channel_ping_pong(
+    transport: ChannelTransport,
+    message_size: usize,
+    num_iter: usize,
+) -> Duration {
+    let (client_addr, mut client_rx) = channel::serve::<Bytes>(ChannelAddr::any(transport.clone()))
+        .await
+        .unwrap();
+    let (server_addr, mut server_rx) = channel::serve::<Bytes>(ChannelAddr::any(transport.clone()))
+        .await
+        .unwrap();
+
+    let _server_handle: tokio::task::JoinHandle<Result<(), anyhow::Error>> =
+        tokio::spawn(async move {
+            let client_tx = channel::dial(client_addr)?;
+            loop {
+                let message = server_rx.recv().await?;
+                client_tx.post(message);
+            }
+        });
+
+    let client_handle: tokio::task::JoinHandle<Result<(), anyhow::Error>> =
+        tokio::spawn(async move {
+            let server_tx = channel::dial(server_addr)?;
+            let message = Bytes::from(vec![0u8; message_size]);
+            for _ in 0..num_iter {
+                server_tx.post(message.clone() /*cheap */);
+                client_rx.recv().await?;
+            }
+            Ok(())
+        });
+
+    let start = Instant::now();
+    client_handle.await.unwrap().unwrap();
+    start.elapsed()
+}
+
+criterion_group!(
+    benches,
+    bench_message_sizes,
+    bench_message_rates,
+    bench_channel_ping_pong
+);
 
 criterion_main!(benches);
diff --git a/hyperactor/example/channel.rs b/hyperactor/example/channel.rs
new file mode 100644
index 000000000..0e5b562ec
--- /dev/null
+++ b/hyperactor/example/channel.rs
@@ -0,0 +1,98 @@
+/*
+ * Copyright (c) Meta Platforms, Inc. and affiliates.
+ * All rights reserved.
+ *
+ * This source code is licensed under the BSD-style license found in the
+ * LICENSE file in the root directory of this source tree.
+ */
+
+use bytes::Bytes;
+use hyperactor::channel;
+use hyperactor::channel::ChannelAddr;
+use hyperactor::channel::ChannelRx;
+use hyperactor::channel::ChannelTransport;
+use hyperactor::channel::Rx;
+use hyperactor::channel::Tx;
+use tokio::time::Duration;
+use tokio::time::Instant;
+
+async fn server(
+    mut server_rx: ChannelRx<Bytes>,
+    client_addr: ChannelAddr,
+) -> Result<(), anyhow::Error> {
+    let client_tx = channel::dial(client_addr)?;
+    loop {
+        let message = server_rx.recv().await?;
+        client_tx.post(message);
+    }
+}
+
+// Analog of https://www.internalfb.com/phabricator/paste/view/P1903314366, using Channel APIs.
+// Possibly we should create separate threads for the client and server to also make the OS-level
+// setup equivalent.
+#[tokio::main(flavor = "current_thread")]
+async fn main() -> Result<(), anyhow::Error> {
+    let transport = ChannelTransport::Tcp;
+    // let transport = ChannelTransport::Local;
+    let message_size = 1_000_000;
+    let num_iter = 100;
+
+    let (client_addr, mut client_rx) = channel::serve::<Bytes>(ChannelAddr::any(transport.clone()))
+        .await
+        .unwrap();
+    let (server_addr, server_rx) = channel::serve::<Bytes>(ChannelAddr::any(transport.clone()))
+        .await
+        .unwrap();
+
+    let _server_handle = tokio::spawn(server(server_rx, client_addr));
+
+    let server_tx = channel::dial(server_addr)?;
+    let message = Bytes::from(vec![0u8; message_size]);
+
+    for _ in 0..10 {
+        // Warmup
+        let t = Instant::now();
+        server_tx.post(message.clone() /*cheap */);
+        client_rx.recv().await?;
+    }
+
+    let mut latencies = vec![];
+    let mut total_bytes_sent = 0usize;
+    let mut total_bytes_received = 0usize;
+
+    let start = Instant::now();
+    for _ in 0..num_iter {
+        total_bytes_sent += message.len();
+        let start = Instant::now();
+        server_tx.post(message.clone() /*cheap */);
+        total_bytes_received += client_rx.recv().await?.len();
+        latencies.push(start.elapsed());
+    }
+    let elapsed = start.elapsed();
+
+    let avg_latency = ((latencies.iter().sum::<Duration>().as_micros() as f64) / 1000f64)
+        / (latencies.len() as f64);
+    let min_latency = (latencies.iter().min().unwrap().as_micros() as f64) / 1000f64;
+    let max_latency = (latencies.iter().max().unwrap().as_micros() as f64) / 1000f64;
+
+    let total_bytes_transferred = total_bytes_sent + total_bytes_received;
+    let bandwidth_bytes_per_sec =
+        (total_bytes_transferred as f64) / ((elapsed.as_millis() as f64) / 1000f64);
+    let bandwidth_mbps = (bandwidth_bytes_per_sec * 8f64) / (1024f64 * 1024f64);
+
+    println!("Results:");
+    println!("Average latency: {} ms", avg_latency);
+    println!("Min latency: {} ms", min_latency);
+    println!("Max latency: {} ms", max_latency);
+    println!("Total iterations: {}", latencies.len());
+    println!("Total time: {} seconds", elapsed.as_secs());
+    println!("Bytes sent: {} bytes", total_bytes_sent);
+    println!("Bytes received: {} bytes", total_bytes_received);
+    println!("Total bytes transferred: {} bytes", total_bytes_transferred);
+    println!(
+        "Bandwidth: {} bytes/sec ({} Mbps)",
+        bandwidth_bytes_per_sec, bandwidth_mbps
+    );
+
+    Ok(())
+}
diff --git a/hyperactor/src/data.rs b/hyperactor/src/data.rs
index c5c4df6ff..d8c9ab32f 100644
--- a/hyperactor/src/data.rs
+++ b/hyperactor/src/data.rs
@@ -105,6 +105,12 @@ impl Named for std::time::Duration {
     }
 }
 
+impl Named for bytes::Bytes {
+    fn typename() -> &'static str {
+        "bytes::Bytes"
+    }
+}
+
 // A macro that implements type-keyed interning of typenames. This is useful
 // for implementing [`Named`] for generic types.
 #[doc(hidden)] // not part of the public API