Can I put my bio filter in the small tank on top of my water fall?

I have a small bucket at the top of my simple waterfall. The waterfall works by a small bucket that is slanted at an angle so when the bucket overflows the water makes a waterfall which falls into my pond. There is a pump in my actual pond that sucks water into a pump hose that runs the water into the water fall bucket. And I was wondering if I could put my bio filter in the bucket. Would it do the same affect as having it in my pond? Thanks. :)