VR Preview Black Flickering on Edge and Terrible Framerate inside Oculus

Oculus Rift + extra sensor + Touch
GTX 1080 / i7-4790K

Whenever I use VR preview in the editor inside oculus the framerate is very low…feels like 5 FPS or something and when I move my head I see black flickering on the edges like I am watching the frames draw it’s so slow.

This happens in any project even if I just create a blank one that comes with the two chairs and table.

I recorded a video and you can actually see the flickering on the edges in the preview window as well:

The preview windows has framerate all over but you can see the red text from stat fps inside oculus is around 9fps.

Late update in case anyone finds this.

The issue was with running EVGA Precision X. You need to close/kill the process otherwise the entire editor will be very sluggish.