Interaction cross-sections for baryon pairs are of fundamental interest
and they are actively investigated theoretically. They are well known for
pairs of common (anti-)baryons; however, there is a lack of precise
data for heavier baryons, including the ones carrying strangeness. The
two-particle correlation formalism (femtoscopy) is sensitive to the
interaction kernel for a pair of particles, which is related to the
pair interaction cross-section. This formalism is extensively used
to measure two-particle correlations in heavy-ion collisions. In
particular, the collisions at RHIC and LHC produce simultaneously a large
number of baryons and anti-baryons. We show how this formalism can be
used to extract the cross-sections from the femtoscopic
baryon-(anti-) baryon correlation functions. The analysis is
complicated by the presence of the so-called "residual correlations"
arising from weak decay products in the measured sample. We show how
this effect can be exploited to gain further insight into the
cross-sections of even heavier baryons. We discuss the limitations of
the measurement technique and estimate the discovery potential of
currently available and soon-to-be-collected heavy-ion collision
datasets at RHIC and at the LHC.