Consider a cylindrical dipole magnet with strength $B$ undergoing eddy current braking in a conductive cylindrical tube with the axis of the magnet aligned with the axis of the tube.
The magnet feels a retarding force $F_{eddy} =\mathcal{V}vB^2σ$
The arrangement is in equilibrium (by symmetry) in all directions apart from along the axis. But is it a stable equilibrium in the off-axis directions?
That is, if you knock the magnet sideways by a small amount, is there a restoring force? If you turn the magnet slightly off the axis, is there a restoring couple?
Bonus question: could it be made stable by mechanically attaching some other magnets to the moving magnet? (the goal is to make it stable without significantly reducing the braking force)