The principle of magnetic levitation for the magnetic top is estimated by a simple analysis based on the equivalent coil current model for a permanent magnet, with the equations of angular moment of a rotating magnetic top. The three dimensional static analysis gives the shape and size of the area where a magnetic top can be kept levitating. The behavior of a levitating magnetic top is analyzed by the three dimensional dynamic analysis based on the equations of angular moment of a magnetic top using the Runge-Kutta method. Both static and dynamic analysis well described the experimental behavior of a levitating magnetic top.
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Azukizawa et al. (2008) studied this question.