I do not know the exact formula but it depends on how much you have staked and then the earnings that were paid out during the calculation period. this is what I believe. When you are growing and have a small balance in that token, the APR will appear to be lower. use this site https://hiveengine.usehive.com/ it does a decent job in calculating your HE token ARP I normally adjust and see what the APR was over the last 7 days since I am growing my token base as quickly as I can. Hope this helps.
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