Like to be in bed, rested (5)
I believe the answer is:
based
'rested' is the definition.
(both can mean located or positioned)
'like to be in bed' is the wordplay.
'like' becomes 'as'.
'to be in' means one lot of letters goes inside another.
'as' inserted inside 'bed' is 'BASED'.
(Other definitions for based that I've seen before include "Founded or used as evidence" , "Founded, grounded" , "Worthless" , "Stationed (in a place)" , "Located" .)