trade.xyz Raises CBRS Position Limit to $10 Million on May 4

According to trade.xyz's official page, the platform raised the position limit for CBRS (Cerebras Systems), its first Pre-IPO perpetual futures product, to $10 million on May 4. As of publication, the product's actual position stood at $4.26 million with $2.52 million in 24-hour trading volume.

Under trade.xyz's terms, if Cerebras Systems lists on Nasdaq before May 30, the contract will convert to a standard perpetual futures product; otherwise, it will settle using TWAP (time-weighted average price) methodology.