I am running in the “standard” position right over the axle, though it is a Weighsafe goose so it sits up about 3” higher than the standard drop in (don’t need the extra height, just wanted the scale cuz I’m a geek like that). I haven’t had any clearance isses while towing or backing. Pulling forward the cap will not hit the cab, I’ve gone into multiple parking lots doing full lock “donuts”, not to mention having to turn around in my cul-da-sac every time we come home, that pic above shows the closest it gets. Backing up is a different story which is the case for most, I will hit if you go too far but I’ve backed into some really tight spots and have not had any issues. Always watching out but I’ve been able to pull any maneuvers needed to date.
It is important to note, I have a 150 Series 5ver. The caps are designed for max clearance in short bed trucks, not sure if it’s got significantly more clearance than a “standard” 5ver, most manufacturers these days seem to be designing the front caps a bit tighter with all the crewcab short beds on the roads these days.