There are lots of web host who are running affiliate programs but HostGator and BlueHost is leading with paying the highest commission for affiliate sign up. You can go for Dream Host as well. It is also good.
HostGator and BlueHost both are good but I think there are some points to consider when you opt something like this first thing is What about quality of hosting service of that particular company that you have to trying to opt/use? secondly How clearly they provide their customer support? third their reliability? fourth their stability in the industry?
Its easier to convert using a lesser known hosting companies affiliate program as the world+dog recommends HostGator and many in the know (looking for reviews, recommendations, etc...) are looking for everyone but the likes of HostGator and so on.
Dont be a sheep, choose to promote someone your target audience would likely take your word for.
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I suppose that is hard choice and that is not right time to be in a hurry. Do the search for some reviews. I suppose that would be good idea to stick with provider which pays regular and do not offer 200-300% payouts.