Limitations of current centrifugal blood pumps are related to heat generation of bearings and leakage of seals, to dead water zones, and to poor efficiency. A new concept is proposed in this paper to ameliorate these problems based on a miniaturized magnetic drive, and a prototype is introduced. The pump rotor is suspended and driven by a radial permanent magnetic field that stabilizes the impeller in 4 of the 6 spatial degrees of freedom and allows it to be top-spun on a single blood-flushed pivot bearing with minimal load and friction. A shrouded impeller with an open center and 4 logarithmically curved channels is run inside a cone-and-plate-type housing with a spiral volute chamber. In vitro testing was performed comparing this design with the BioMedicus, St. Jude, and Sarns pumps. The prototype is demonstrated to have the smallest internal volume (35 ml), surface (190 qcm), and passage time (0.5 s at 4 L/min), as well as the highest hydraulic efficiency (up to 0.4) of all devices studied.