For real applications, existing HSI-SR methods are mostly not only limited to unstable performance under unknown scenarios but also suffer from high computation consumption. In this paper, we develop a new coordination optimization framework for stable, interpretable, and lightweight HSI-SR. Specifically, we create a positive cycle between fusion and degradation estimation under a new probabilistic framework. The estimated degradation is applied to fusion as guidance for a degradation-aware HSI-SR. Under the framework, we establish an explicit degradation estimation method to tackle the indeterminacy and unstable performance driven by black-box simulation in previous methods. Considering the interpretability in fusion, we integrate spectral mixing prior to the fusion process, which can be easily realized by a tiny autoencoder, leading to a dramatic release of the computation burden. We then develop a partial fine-tune strategy in inference to reduce the computation cost further. Comprehensive experiments demonstrate the superiority of our method against state-of-the-art under synthetic and real datasets. For instance, we achieve a 2.3 dB promotion on PSNR with 120x model size reduction and 4300x FLOPs reduction under the CAVE dataset. Code is available in https://github.com/WenjinGuo/DAEM.