In my opinion, the best hybrid mode is “Grid Tie with Backup II“.

Eastron meter is needed in order to get this mode to work correctly.
In this mode, the inverter blends Grid+PV+battery power together. It allways try to compensate grid to zero:

• If there’s too much PV power, the inverter lowers it’s output in order to reach zero export.
• If there’s a huge load on the backup or AC side, the inverter uses PV first, then battery, then the grid.
• You can also limit the amount of Power (watts) that will be pulled from the battery. If there’s a need for more power than this limit, the remaining watts will be pulled from the grid.

Logic:

• If you have some loads connected to the AC IN side of the inverter, these load will benefit from the PV, Battery and the Grid too. Once the grid is down, these load will go down too. They are not backed up. These loads can be huge, there’s virtually no limit on Amps.
• Whatever is connected between the grid and the Eastron meter, will NOT benefit from PV, nor from the battery.
• If you have some loads connected to the AC OUT side of the inverter, these loads will benefit from PV, Battery, Grid. These loads will be backed up even if the grid goes down. These loads have a current limit of approx 21A.

For a shame, this mode does not work with NetMetering because it aims at 0 export. If you have an excess power generation, fully charged batteries and small AC loads, the inverter will lower it’s output.

If you want to use NetMetering, the best mode is “Grid Tie with Backup I”
In this mode Eastron meter must NOT be installed.
The logic is very same like in the previous mode, but with two exceptions:

• All the loads in the house will benefit from PV+GRID, no matter where they are connected.
• If you have excess PV generation, all of it will be fed to the grid. In most of countries, there’s a limit of roughly 3700W set in the inverter’s configuration.

Feeding the battery to the grid

By default, feeding the battery to the grid is disabled in all modes. However, if you really want to, you can manually tick “allow grid feed-in” + “allow the feed-in battery to the grid”.  Then the inverter will send all the excess PV generation to the grid, up to a defined limit (normally 3700W). And if there’s not enough PV, it will discharge the battery to the grid too. Again, up to a total limit of 3700W by default. For a shame, it’s not possible to control battery discharge based on the SoC. It simply discharges the battery up to a point where the low-voltage threshold kicks in.