fast capture from usb camera and show on HDMI

I need to capture from USB Camera 1080p30, draw symbology and show images on HDMI. The requirement is minimal latency. I use Gstreamer for capture and show Image. I receive about 1-2 frames latency on the capture path and 3-4 frames latency on the shoe path. What is the best way to shorter the latency?

Please share your gstreamer pipeline and how you profile latency. Thanks.

My pipeline is very simple:
gst-launch-1.0 v4l2src device = “/dev/video 1” ! xvimagesink
For profiling the latency I use additional camera, which record the movie. The camera record the event (LED light on ) and display, connected to TX1 board. The difference of LED light on in frame N and the appearing of LED on Display on frame M is a latency in frames.

Suggestion is given at https://devtalk.nvidia.com/default/topic/1026463/jetson-tx1/display-video-on-hdmi-without-using-gpu/post/5220755/#5220755