A space efficient magnetic antenna is disclosed for use in tracking, positioning and other applications. In a preferred embodiment, a space efficient magnetic antenna system comprises a first magnetic antenna with a first null axis aligned within a predetermined plane and a second magnetic antenna having a second null axis aligned substantially orthogonal to a first null axis. A second magnetic antenna system lies in a minimal coupling orientation with respect to a first magnetic antenna system. Additionally, a first magnetic antenna may further comprise a plurality of interconnected magnetic antenna elements. A space efficient magnetic antenna system may include an RF module. In further embodiments, the antenna system may enclose a substantial majority of the device including the RF module; the RF module may be enclosed substantially or wholly within one or more antennas of the antenna system.