There are already a number of ways to test the capability of your Android device's hardware, but one more isn't going to hurt. Rightware has released Basemark ES 3.1 for Android in both free and paid versions. Do you need a paid graphics benchmark? Probably not, but maybe someone does.
This is fairly typical benchmark tool on the surface, so you can imagine what it's like to use. You start it, and Basemark renders a lovely animation of a submarine sitting in a dock. There are dynamic lighting effects, particles, and plenty of textures to render. When it's over you get an overall score as well as baseline measurements for different performance subcategories.
Basemark ES 3.1 uses the features built into OpenGL ES 3.1 to allow users to modify the graphics rendering and detect performance bottlenecks. For example, a device might have no trouble with lighting effects, but maybe it's not so good at particles past a certain resolution. I suppose this could be of use to developers, but they'll need to buy the pro version to get these features. The free version only runs the standard test. To modify any of the graphics settings you need the $5.43 pro version.