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Low latency to where? Latency is mostly dependent on distance from the server. So if you want 3-4ms, that's super low, which probably means within the same city, or neighbouring city.
i am in US, Michigan so probably so nearby US based vps will be good
Why do you need 3-4 ms? In ideal conditions, you can get such if your VPS is no further than 370 miles from you (or 185, if you mean round-trip). In reality, each router between your device and your VPS will take time to transmit a packet further. I agree with the previous comment, you need to look inside your city. Where are you from exactly?
chicago
For 3-4ms latency you really have to be in the same dc as the other machine. Unless you have a particular reason to do otherwise you should probably get your 2nd vps from the same host as the first one. If you want it to be on a separate host node, just open a pre-purchase ticket asking if they can do that.
You may try,
https://www.plazhost.com/hitleap-bot-vps/
Ahh, yes. Good ole Chicago, Michigan. Haven't been there in a long time.
Use case? Any flexibility on the RAM? Chicago.
Wow. Have you considered hosting a VM on your local machine?
I think it's impossible to give good advice before we know the reason for the latency request. Anyway, I ran some tests. In case you are fine with having 2 VPS in one datacenter, you will probably get 4 ms (and you won't need to choose a hosting near Chicago, you can get it anywhere).
This is a ping result between two VMs (VPS) on the same dedicated server (I've deleted the IP address):
64 bytes from xxx: icmp_seq=1 ttl=64 time=0.466 ms
64 bytes from xxx: icmp_seq=2 ttl=64 time=0.258 ms
64 bytes from xxx: icmp_seq=3 ttl=64 time=0.254 ms
64 bytes from xxx: icmp_seq=4 ttl=64 time=0.342 ms
64 bytes from xxx: icmp_seq=5 ttl=64 time=0.244 ms
This is a ping result between two VMs on two different dedicated servers but inside the same datacenter:
64 bytes from xxx: icmp_seq=1 ttl=64 time=1.62 ms
64 bytes from xxx: icmp_seq=2 ttl=64 time=0.396 ms
64 bytes from xxx: icmp_seq=3 ttl=64 time=0.386 ms
64 bytes from xxx: icmp_seq=4 ttl=64 time=0.334 ms
So yes, such low latency is possible between two VPS in one datacenter.
If you need low latency from your local machine, it's harder to achieve. These guys are the first in Google for "Chicago VPS" and they meet your budget: https://www.chicagovps.net/services/kvm-vps
You can ask them for any servername/domain/IP that belongs to their datacenter and run a traceroute or ping command to it to check the latency. I've actually tried to get one from a live chat support agent but they sent me to a ticket (and I still doubt it is possible to get 3-4 ms that way).
You can also self-host whatever you need, however, I cannot tell whether it is a good idea or not without any details.