A key component of Simultaneous Localization and Mapping (SLAM) systems is the joint optimization of the estimated 3D map and camera trajectory. Bundle adjustment (BA) is the gold standard for this. Due to the large number of variables in dense RGB-D SLAM, previous work has focused on approximating BA. In contrast, in this paper we present a novel, fast direct BA formulation which we implement in a real-time dense RGB-D SLAM algorithm. In addition, we show that direct RGB-D SLAM systems are highly sensitive to rolling shutter, RGB and depth sensor synchronization, and calibration errors. In order to facilitate state-of-the-art research on direct RGB-D SLAM, we propose a novel, well-calibrated benchmark for this task that uses synchronized global shutter RGB and depth cameras. It includes a training set, a test set without public ground truth, and an online evaluation service. We observe that the ranking of methods changes on this dataset compared to existing ones, and our proposed algorithm outperforms all other evaluated SLAM methods. Our benchmark and our open source SLAM algorithm are available at: www.eth3d.net