We study the instability of a mixture of two interacting counter-flowing superfluids. For a homogeneous system, we show that superfluid hydrodynamics leads to the existence of a dynamical instability at a critical value of the relative velocity $v_{c
r}$. When the interspecies coupling is small the critical value approaches the value $v_{cr}=c_1+c_2$, given by the sum of the sound velocities of the two uncoupled superfluids, in agreement with the recent prediction of [1] based on Landaus argument. The crucial dependence of the critical velocity on the interspecies coupling is explicitly discussed. Our results agree with previous predictions for weakly interacting Bose-Bose mixtures and applies to Bose-Fermi superfluid mixtures as well. Results for the stability of transversally trapped mixtures are also presented.
