I don't know much, but since you still don't have an answer, I will say what I know.
The main difference between a static and dynamic IP is that a static IP will never change, whereas a dynamic IP will. I believe that a static IP is faster because it is more direct. I don't know much about how they work, but because the static IP never changes, the information doesn't travel as far as with a temporary one. As far as ping, the difference is unnoticeable, but because of the way most games choose a host, a static IP will be chosen more often. The only disadvantage I know of is when you are being DDOSed. DDOS is basically a flood of information that another player will send to your IP, overloading your router. With a dynamic IP, all you have to do is unplug your router for two minutes and it will be assigned a new IP automatically (ending the DDOS). However, with a static IP, it is my understanding that you would have to wait until they stopped flooding your IP. Hope this helped and good luck