According to docs, there are extensions WGL_EXT_swap_control_tear/GLX_EXT_swap_control_tear [0], that cause late frames to tear instead of wait a full frame. They don't work on my machine (my Intel HD 4000 reports that it is supported and then silently fails), but this should be the ideal swap mechanism.
[0]: https://registry.khronos.org/OpenGL/extensions/EXT/GLX_EXT_s...