so lower cfm is better for exhaust
Higher will typically be better than lower, though there is such a thing as too much.
CFM is Cubic Feet per Minute, which is a measurement of how much cubic feet of air can be moved through the room in a single minute. So the higher the CFM, the more air being moved through the room in a single minute. A higher CFM is especially good, because the carbon filter will restrict some of the airflow. So a ~700cfm fan will only be around ~500cfm with a carbon filter. Similar to an air filter in your car in the sense that it restricts airflow.
I'm using an 8in inline fan in my 4x4 tent personally. If for some odd reason that ends up being too much airflow for you, then a fan controller can be purchased to remedy that.