Please report all issues discovered in Release 158 in this thread.
If you wait a few moments it should go away. There was a change to make it draw father through portals but a consequence currently is that you can occasionally see lower level of detail (LODs) when you transition and in this case your seeing a very low level of detail chunk as it still meshing the high detail ones.
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So I noticed this in the news:
I logged in for a couple of hours to play, still a fair bit of rubberbanding happening on and off but I decided to push through it and go to Munteen.
Seemed to be going well, I started killing things and piling up bodies to loot once I cleared the area. Then a spot of lag hits, I end up dying to a spitter after watching my bullet kill it but never seeing the bullet that hits me due to rubberbanding.
So, return to sanctum, re-enter Munteen, and… all my bodies have disappeared. I’d piled up 2 roadrunners, 7 or so cuttletrunks, 2 hoppers and 2 spitters. All carcasses were just gone.
And that was the end of play for me, very frustrating and no fun to play!
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Creatures/carcasses also despawn when you go through a portal and come back again. I think they need to persist both beyond death and after you leave a planet (at least for a few minutes). This would be more noticeable if you were in a group fighting a bunch of creatures and the player that caused the creatures to spawn, dies.
Sorry to hear that you got frustrated with it. Good feedback for the devs though. Silver linings and all that 
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I think my 2 refinerys broke, they are currently showing 71359074 minutes and 40 seconds to process 10 mass stacks of gleam.
I logged in, took 500 out of each and then I’ve come back to check on progress and wondered why the timing wasn’t displayed in the crafting list - took a step back to view the machine itself and saw the 135 years left til process lol!
Steps taken, filled both machines with Gleam and mass processed refined gleam as many as it would let me (20?) before logging of overnight.
Update has gone through while I’ve been sleeping - Logged in and took 500 gleam from each machine, then went back to check if another batch was done and saw the timer.
Repairing the machines has made them work normally again, but the machines shouldn’t be able to process anything if they are broken I thought?
It shows that when you have items to take out of the output tab, and the operations in queue can’t be finished because the output is full.
Also good to check if your machine is not at 100% usage. If it is, just hit it with a spanner
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I cleared it out already so that wasn’t it, but they were 101% broken so I did use the spanner and it got them crafting normally again.
I’m guessing the outrageous timer is some sort of display bug? If it’s full it should say it, or if it can’t craft it should say it - giving 135 year countdown in seconds must take much more processing.
Smelted ore won’t stack together creating a smart stack instead, had 6 iron, 1 iron, and 1 iron in a smart stack when I tried to combine them into 1 stack.
Thanks for reporting this, it’s definitely a display bug.
Ores will only smart stack with other ores, so it will not smart stack with iron.
I seem to get lag spikes after I pile up a mass on bodies in an area after hunting.
How many creatures did you kill before it started to become a problem?
@vdragon you missed this one 
20 to 30 mobs
Does it only lag when you have enemy bodies piling up?
Didn’t play long enough to be able to tell unfortunately but I did have rubber banding at my base on therka with loads of dead bodies in the lake below
If you start getting lag when you have several creatures (whether they’re dead or alive), it will be good if you get a total (or approximate total) number to determine when performance is affected.
I mentioned above:
There was also one alive spitter in the immediate area ( the one I was fighting and killed right before it lag-killed me ). Other than that lots of other alive creatures in the visible area but too far away from me to agro.
What about the disappearing carcasses (unlooted)? That was the worst part and my main point.
I’d really like to see a public bug tracker just for bugs (not suggestions or discussions), these forum threads make it way too easy for things to get lost.
Edit: Keeping track of my bugs here: Wichall's Bugs @vdragon