Vertigo, the smallest boat in the Melbourne to Devonport field, has won the Rudder Cup and line honours double.

Tim Olding's boat, featuring four women in its crew of six, finished soon after 5am on Wednesday and took out the Rudder Cup for the handicap win as well.

They beat Brian Pattinson and his son Tristan on Gusto Solo by about five hours.

Vertigo used superior tactics and excellent light-weather sailing skills to secure the win, heading not as far east as Gusto Solo after going through Port Phillip Heads.

The two leaders were close together as they neared the Tasmanian coast on Tuesday evening, but a shift came through and they separated.

About three miles from the finish, a 180 degree shift left Vertigo beating Gusto Solo in light, fickle winds to the finish.

They also had to follow instructions and stand aside as the Spirit of Tasmania ferry came through.

"We couldn't have been happier with the way we sailed, with some experienced and some new people on board it was a good team," Olding said.

Gusto Solo won the double-handed trophy, while Scaramouche finished before 1pm and claimed the performance handicap and Ocean Racing Club handicap prizes.

Meanwhile, the Melbourne to Hobart fleet also continues to struggle through fickle light winds.

Audere leads the race, with 20 knot westerlies not expected until early Thursday morning.