https://github.com/hurdaskellir/h264-live-player . It creates a webpage where you can see the live video. Just run Chrome on the phone and access the webpage on the raspberry pi. You have to find it's IP on the usb ethernet network at first, by using ssh or another method, and that's it.
I measured the delay to be lower than 250ms by taking a picture of both a stopwatch and the smartphone displaying a video of it. Let's hope I don't get sea sick when I use this in front of my eyes... ;-)
The phone I have is a sony xperia z5 premium, with a 4K display, the resolution should be nice when watched through the VR headset.
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