Getting massive lag/delay/teleporting while steady 40ms/60fps?

Is this happening to anyone else?

My fps is at a steady 60fps, with no spikes... 40 ms latency with no spikes, and yet my abilities are lagging, sometimes up 2 seconds behind, when I cast them. Sometimes my character will even teleport across the damn screen like as if there was a huge lag spike...

But I'll look up again and there's no spikes anywhere whatsoever. And hasn't been because I've been watching it the whole game.

What the hell is the deal? Someone else said the same thing in this last match I was playing... It's getting really damn irritating.