It usually depends on your internet too. I tried 6000kbps and it looks fine (not as good as recording obviously.) No mouselag, and the quality is pretty good. Also there is no FPS drops for me.
settings for livestream: http://puu.sh/8Mt3y , http://puu.sh/8Mt51 & http://puu.sh/8Mt8Q.png
(also do not livestream in 1080, you will lag then, i have no idea why but you will.)
Is your settings close to these @Wano1997?