Unless you are dedicated to using a high quality respirator, I strongly discourage the use of a hot knife to cut EVA. The wisps of smoke that emanate from performing this action are highly carcinogenic. Safety is paramount.
Using a standard #11 blade (either scalpel, X-Acto, or generic) with the appropriate handle works excellent as long as you keep your blade sharp. I use a traditional "stick" style sharpener (the kind the butchers use) and will get weeks of use out of each blade with frequent sharpening.