Can the ultrapower construction (used for extending the field of real numbers to get the field of hyperreals) be applied to the field $\mathbb{Q} $ of rational numbers?
In my view it should be possible to start with the set $\mathbb{Q} ^{\mathbb {N}} $ of all sequences of rationals and then use equivalence between these sequences based on a free ultrafilter. And my guess is that it should lead to another non-archimedean ordered field $ {} ^*\mathbb{Q} $. More specifically if ${} ^*\mathbb{R} $ is the field of hyperreals then ${} ^*\mathbb {Q} $ should be isomorphic to the set $$\{x\mid x\in{} ^*\mathbb {R}, \text{ standard part of }x\text{ is rational or }x\text{ is an infinite hyperreal number} \} $$
Do the axioms like Extension Principle, Transfer Principle
and Standard Part Principleapply in analogous manner to ${} ^*\mathbb{Q} $?
Update: Since there are sequences of rationals which converge to an irrational number, most likely the Standard Part Principle will not be valid here. But I don't see if the other two principles have any issues.