SummaryAlong with the rapid development of the information technology revolution, P2P technology has been more and more widely and deeply researched in the field of mobile wireless, and mobile P2P has become an emerging and popular research field. The particularity of the mobile environment has extremely high requirements on the P2P network topology, resource transition paths and network security. In this paper, a two‐stage queueing model with negative customers and asynchronous failure is established based on a hybrid mobile network model combining the semi‐distributed topology and the fully‐distributed topology. Using the matrix‐geometric solution and Gauss‐Seidel iterative method, the probability distribution of the network model in steady‐state is obtained, and expressions for performance indicators such as the average number of peers in the two stages are given. Numerical experiments were conducted using programming software to analyze the effect of parameters on each indicator. The optimal parameters were solved by constructing the average cost unit time function and social benefit function to provide decision foundation for the mobile P2P network model.