Distance

Less wattage draw doesn't make it a weak light. You will be surprised how easy it is to burn them with the 700w setup lol. Are you using the photon app for android and apple? It is free and it is pretty close(not on the money but better than what you have to work with. I really can't help ya in this avenue due to the difference in my light diodes verses yours. I think Hulk has one like yours maybe he can help. 

700watts is a strong led🥵

This will be a learning curve for ya to dial in the light. 

Enjoy your new baby. I moved the led driver(ballast) to the outside of my tent. This is where most of your heat comes from. I also put a fan blowing on it to keep it cool. 

My light fills my 4x4 with less than an inch on each side. No problems here lol

I'm a lazy old fart, so once I'm in veg, I set my lights as high as I can, and turn them all the way up.

That way, as the plants grow and need more intensity, they're getting closer to the light. And thus getting the more intense light.

 May not be "optimum", but it works well, and it takes a lot of worry out of my lighting.

700 watts, in a tent??  WOW

I'd hike the lights up, and put your light at 50%, for now. That's where I'd start, and adjust power (not height) from there.

But that's just me, and like I said, Ima lazy old fart.  lol