Dynamic novel view synthesis (NVS) is essential for creating immersive experiences. Existing approaches have advanced dynamic NVS by introducing 3D Gaussian Splatting (3DGS) with implicit deformation fields or indiscriminately assigned time-varying parameters, surpassing NeRF-based methods. However, due to excessive model complexity and parameter redundancy, they incur large model sizes and slow rendering speeds, making them inefficient for real-time applications, particularly on resource-constrained devices. To obtain a more efficient model with fewer redundant parameters, in this paper, we propose Hybrid Gaussian Splatting (HGS), a compact and efficient framework explicitly designed to disentangle static and dynamic regions of a scene within a unified representation. The core innovation of HGS lies in our Static-Dynamic Decomposition (SDD) strategy, which leverages Radial Basis Function (RBF) modeling for Gaussian primitives. Specifically, for dynamic regions, we employ time-dependent RBFs to effectively capture temporal variations and handle abrupt scene changes, while for static regions, we reduce redundancy by sharing temporally invariant parameters. Additionally, we introduce a two-stage training strategy tailored for explicit models to enhance temporal coherence at static-dynamic boundaries. Experimental results demonstrate that our method reduces model size by up to 98% and achieves real-time rendering at up to 125 FPS at 4K resolution on a single RTX 3090 GPU. It further sustains 160 FPS at 1352 * 1014 on an RTX 3050 and has been integrated into the VR system. Moreover, HGS achieves comparable rendering quality to state-of-the-art methods while providing significantly improved visual fidelity for high-frequency details and abrupt scene changes.