a hyperloop is just a specific airwrap - one where the strings cross halfway between the handles and the poi heads, making the poi spin in smaller circles for the time that they are tangled.
the strings tangle on one side of your body and if you move them to the other side (while keeping them spinning), they will neatly untangle.
quite a few peeps around here do them (santanatwo has some crazy variations) and they are discussed a bit in
here - skim through to find the bits you want.
not sure about the sliding wraps - i've certainly done them by accident but never really played with them at all.