I have extensive experience with online dating, and have many female friends/former girls I hooked up with that all say they assume men below 5'10" add on like two inches of height. One girl is 5'7" and told me she dated a guy that claimed 5'10 but was more like 5'5"!
When I was 5'5 and some change, I used to say 5'7" and got away with it unless girls who were 5'6 and up dated me. Even then, it was mostly ok. I think lying by more than an inch could get you in trouble, because they'd probably notice it, especially if they're close to your height. Now that I'm 5'8", I just say 5'9" (since they probably think 5'8 = 5'6").
In my opinion, Tinder can be rough for short guys because even you got a lot matches (I got a lot of matches), the subject of height typically comes up, because Tinder is a height lottery if it's not discussed. So, you're put on the spot, and they will remember it more if you meet in person and you're shorter than what you said (this applies more if the girl in question is close to your height).