The issue appears to be related to hyperdrive configurations that reuse old names in the dashboard. When you delete a hyperdrive and then recreate it using the same name, the latency is five times higher compared to creating a hyperdrive with a new name.
That's very odd. I can't think of any reason for that to have any impact on performance. I don't think we have literally any of our logic conditioned on the Hyperdrive's name. I'll test that this week and get back to you.
It seems there was some problem with the Neon. Created a new project and now everything works fine. I'll let you know if it happens again. By the way, any news on smart placement for tcp connections?