[NTG-context] formula placement

I find I get a fairly large whitespace after the formulas placed with: \placeformula\startformula <> \stopformula How can I reduce this? The wiki does not give a parameter description for \setupformulas. In the code I can only find some [distance=] parameter. But using it with for example \setupformulas[distance=-10pt] scored no visable effect. Hans van der Meer