Cambricon (688256): can you buy it? Three routes compared
A perpetual is not a share. No ownership, dividends or voting; leverage can liquidate you; funding is paid or received every 8 hours.
Three ways to get exposure
None of the three exchanges offers A-share spot. These are the usual three routes; facts only.
Gate A-share perpetual
For: people who only want price exposure and understand leverage and funding.
- Account
- Online identity check
- Funding
- Buy USDT by card or P2P, or transfer it into Gate
- Fees
- 0.05% taker to open + funding (every 8 hours)
- Hours
- 24/7 (very thin on weekends)
- Cashing out
- You get USDT back; turning it into dollars means P2P or another off-ramp
- What you hold
- No shares held, price only
Buy the A50 ETF instead (2823.HK)
For: people who want to hold large Chinese companies long term without contracts.
- Account
- An international broker that trades Hong Kong, such as IBKR
- Funding
- Bank wire, your bank's fee applies
- Fees
- IBKR 0.08%, min HK$18; ETFs exempt from stamp duty; 0.35%/yr management fee
- Hours
- HK market hours
- Cashing out
- Sale proceeds go to your broker account
- What you hold
- A real ETF, but not this stock
Buy the A-share directly (Stock Connect northbound)
Some international brokers, such as IBKR, offer northbound trading.
- Account
- An international broker that supports northbound
- Funding
- Bank wire, your bank's fee applies
- Fees
- IBKR at 0.08%, min CNH 15 (whether this applies to northbound is unconfirmed); ~0.0064% handling, regulatory and transfer fees; 0.05% stamp duty on sells
- Hours
- A-share market hours
- Cashing out
- Sale proceeds go to your broker account
- What you hold
- Real shares
688256 on the three exchanges right now
Checked daily against each exchange's stock and contract lists. Tradable ones show product, fee and hours; eligibility and referral rewards still being verified.
Binance does not list this one. It trades coins, gold and oil contracts and other stock products.
OKX does not list this one. It trades coins, gold and oil contracts and other stock products.
- Product
- CAMBRICON_USDT perp（A-share perps）
- Type
- Perpetual
- Quoted in
- USDT
- Fee
- 0.05%
- Hours
- 24/7 (thin on weekends)
- Leverage
- up to 20x
- Funding rate
- every 8h
Contract data (Gate perp · 2026-11-11 09:58 UTC+8)
Thinly traded contracts with shallow depth have wide spreads and can be hard to exit. Leverage is the platform cap; what you can use depends on your position tier.
Is anyone searching for Cambricon?
Worldwide search interest, last 8 weeks
Worldwide Google search interest for "Cambricon", last 8 weeks; peak week = 100.
About the company
- Chinese AI chip company listed on the Shanghai STAR Market as 688256, priced in RMB.
- None of the three exchanges has A-share spot; Gate has a CAMBRICON_USDT perpetual, which tracks the price without owning the shares.
FAQ
Does Gate's Cambricon contract give me shares?
No. A perpetual tracks the price without owning the shares: no dividends or shareholder rights. You can go long or short with leverage (up to 20×), and losses can exceed what you expect, up to liquidation.
What does a perpetual cost besides the trading fee?
Funding. This Gate contract settles funding every 8 hours between longs and shorts; direction and rate move with the market, and it adds up if you hold for long. The calculator above counts only the opening fee and FX (FX estimated at 2.5%, not confirmed by Gate).
What if I don't want a contract?
One option is buying the A-share directly through an international broker that supports Stock Connect northbound, such as IBKR — whether you can enable it depends on the broker and where you live, and whether IBKR's 0.08% CNH rate applies to northbound is unconfirmed. Another is the A50 ETF (2823.HK) in Hong Kong, with a 0.35%/yr management fee; it is a basket of large Chinese companies, not the same asset as Cambricon.
Where is Gate not available?
Gate's User Agreement clause 2.5 lists mainland China, the US, Hong Kong, Singapore and 30+ other locations as restricted, and stock-type TradFi products carry extra restrictions. Separately, a February 2026 notice from eight Chinese regulators bars offshore firms from providing crypto services to people in mainland China.
Related stocks
Other tickers on the same list.
Open accounts on all three
Listings and prices change daily. With all three, use whichever has it and costs least.
Spot fee 0.1% (0.075% paid in BNB); 7,000+ US stocks; gold, silver and oil perps 24/7.
Spot 0.08% / 0.10%; 230 stock perps incl. Hong Kong, Japan and Korea; gold and oil perps 24/7.
US, Hong Kong, Korea, Japan and Taiwan stocks in USDT; perps on A-shares such as Cambricon.
The global sites of Binance, OKX and Gate are all closed to US residents (Binance also excludes US citizens). Each restricts a different set of other places — including Canada, Hong Kong, Japan, Singapore, Malaysia, the UK and mainland China — see the restricted list on each exchange's page. Not investment advice; we earn commission through referral links.