The increasing complexity of modern AC/DC power systems poses a significant challenge to a fast solution of large-scale transient stability simulation problems. This paper proposes the hybrid parallel-in-time-and-space (PiT+PiS) transient simulation on the CPU-GPU platform to thoroughly exploit the parallelism from time and spatial perspectives, thereby fully utilizing parallel processing hardware. The respective electromechanical and electromagnetic aspects of the AC and DC grids demand a combination of transient stability (TS) simulation and electromagnetic transient (EMT) simulation to reflect both system-level and equipment-level transients. The TS simulation is performed on GPUs in the co-simulation, while the Parareal parallel-in-time (PiT) scheduling and EMT simulation are conducted on CPUs. Therefore, the heterogeneous CPU-GPU scheme can utilize asynchronous computing features to offset the data transfer latency between different processors. Higher scalability and extensibility than GPU-only dynamic parallelism design is achieved by utilizing concurrent GPU streams for coarse-grid and fine-grid computation. A synthetic AC/DC grid based on IEEE-118 Bus and CIGRÉ DCS2 systems showed a good accuracy compared to commercial TSAT software, and a speedup of 165 is achieved with 48 IEEE-118 Bus systems and 192 201-Level detail-modeled MMCs. Furthermore, the proposed method is also applicable to multi-GPU implementation where it demonstrates decent efficacy.