Re-creating a translucent window effect

I wonder if it would be reasonable (performance wise) to recreate a translucent window in openGL and use it to build whatever program on top of it

I’ll try to be a bit clearer:
I do get this is already possible in windows using dwmAPI, and that’s exactly the kind of effect I’d like to recreate in openGL

My guess would be to copy the screen’s content into a texture to pass in a off-screen framebuffer to post-process later, but I’m not sure wheter the overhead would make any advanced drawing on the program itself reasonably fast.

Has anyone tried it? From your experience, is it possible without incurring in too much overhead?

Possibly considering a windows environment