AFAIK there are three software options for such thing: Peertube, Owncast and Restreamer. If there's something else, please write, I will appreciate.

Regarding hosting, I'm an almost total noob. What I know is that I don't want big latency and I don't want to pay too much. I don't know what to look for and the best thing would be to have some options to try, e.g. some trial period (a day, a week?) for free/cheap.

I've already tried Owncast and Restreamer on webh.pl VPS . Looking e.g. at requirements it seems that no huge machine is needed. However, latency was enormous, about 30 seconds, on both softwares.

What affects the latency the most and what would you recommend to try? Is VPS enough, should I aim for something else?

[edit]
I stream from Europe, if it changes anything.