It all depends on where your extraction is going mate. What I mean is if your extraction is going out the top then vertical is better with the fan sitting on top of the tent bit of ducting pushing the air straight through the ceiling into the loft. This is how I want my extraction setup but cant unfortunetly due to the ball and chain

The reason for this is simple - the less bends the better so if you have everything vertical into the loft it produces maximum efficency.
But if your ducting is going out the side of the tent instead of the top, then a horizontal setup is better.
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just remeber about the vibration from the fan if putting the filter in the vertical position.
Theres barely any vibration mate, ive got a friend with a vertical setup and its alot more efficent, problem is hanging the carbon filter vertically!