I recently got a new monitor with GSync and up to 120 Hz refresh. I've got the in-game FPS counter turned on and recently enabled my monitor refresh rate display on the monitor itself while investigating something else. I noticed in destiny that the refresh seemed to be jumping all over the place compared to the FPS counter, which was largely stable, even when in menus or staring at the sky. I have an FPS cap set, and the refresh even jumps above that at times. Additionally, it seems to dip down into the 60-70 range easily, which isn't normal for me according to the FPS counter. At one point it got into a state where the refresh would actually drop to what seemed like a refresh FLOOR at 60 Hz, but the weird part is it would do it when looking at a menu or the sky, and then going back up when looking at more graphically taxing things. I don't notice issues like these in other games.
I run in fullscreen-windowed mode, and enabling regular fullscreen seems to mostly alleviate the issue, although it's still jumping around in a narrower range and going above my frame cap. I've also messed with all the combinations of various v-sync and g-sync settings as well as exiting various other programs I have running that may cause issues (overlays and such).
I went looking for others having the issue and seemed to find that there's a known issue with Destiny and GSync, but I didn't see anyone mentioning the fact that their monitor reported refresh rate was unstable like I'm seeing. I figured I'd post the information here in case it's useful, and in case anyone has more recent information/fixes than I was finding.
Specs:
Acer Predator X34P Monitor
NVidia GTX 1080ti Graphics Card
Intel Core i7 8700K Processor
Asus ROG Z370-I Mobo
32 GB DDR4-2666
Samsung 960 EVO
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Make sure you find out if your monitor is set to fast or slow response this can affect the appearance you might be experiencing.