Code division multiplexing (CDM) based MIMO channel sounder architecture is excellent at measuring fast fading channel. In this paper, loosely synchronous (LS), Kasami and chaotic sequences are suggested as candidates for the code that will be used in CDM architecture. Among those sequences, then, the best suitable sequence for channel sounding is examined through simulation. And by proposing the combined scheme of CDM and TDM when the number of transmit antennas are more than 4, the decrease of dynamic range due to interferences between different sequences can be mitigated.