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Everything below explains how AlphaShell works under the hood. This page is for traders, vault curators, and anyone who wants the full technical picture.
What is basis trading?
Some traders pay a recurring fee just to keep their position open. AlphaShell positions you to collectthose fees while staying delta neutral, so you don't care whether the price goes up or down.
On perpetual markets, long traders pay a funding rate to short traders (or vice versa). This rate changes every hour and varies from one exchange to another.
Basis trading exploits these differences: you buy on the exchange where funding is low and sell on the one where it's high. The position is delta neutral: you take zero directional risk on the asset's price.
AlphaShell handles all of this automatically: detecting, entering, rebalancing, and optimizing your positions around the clock.
Strategy types
Spot + Short Perp
AlphaShell buys the asset in spot and shorts the perpetual. When funding is positive, you collect the rate by being short. The most classic and safest approach.
Perp Long + Perp Short
AlphaShell goes long on one exchange with low funding and short on another with high funding. Captures cross-exchange spreads without holding the spot asset.
Non-custodial architecture
AlphaShell never takes custody of your funds. You connect your own wallet and approve a dedicated agent wallet. That agent wallet can only place and cancel orders on your account. It cannot withdraw or transfer funds under any circumstance.
This is enforced at the exchange level through account abstraction rules. Even if AlphaShell's servers were compromised, the agent wallet's permissions remain read-only for transfers.
What happens if AlphaShell disappears? Your funds stay exactly where they are: in your wallet on the exchange. You can close any open trades and withdraw everything directly, without AlphaShell being involved. We have no access to move your money.
Sign-In With Ethereum. No passwords, no accounts.
Can only place and cancel orders. Cannot withdraw or transfer.
On-chain rules enforce exactly what the agent can and cannot do.
You set maximum leverage, market whitelist and blacklist.
Supported exchanges
AlphaShell connects to Hyperliquid and all its sub-DEXs (XYZ, Felix, Kinetiq, Ventuals, HyENA, ABCDEx, Dreamcash), plus Extended. More perpetual DEXs will be added over time.
The engine scans funding-rate spreads across all connected venues and ranks them by APR and a risk-adjusted score. The best opportunities are acted on automatically.