It depends on how the antelope feels that minute in my experience. I have seen it both ways, blinds that are fairly well hidden backed up against natural cover and had goats spook or snort and make a big scene from 100 yards away, and seen them walk right into a waterhole that had a blind set that morning.
I think alot of it is just how they want to approach the water and what they are looking at while they do it. I have had them spook two days In a row on a blind 40 yards off the water, then swapped sides of the waterhole with the blind 15 yards off and had them walk right in.
The longer they can set the better though. Leave a window or two open so it flaps a little bit or hang something in the blind.