A blood pump (26) includes a stator assembly (122) that includes a motor stator, a fluid inlet (24), and a fluid outlet (26). A rotor assembly (120) includes a motor rotor (54) and an impeller (40) rotatable about an axis (44) to move fluid from the inlet (24) to the outlet (26). A permanent magnet radial bearing (100) supports the rotor assembly for rotation about the axis (44). The radial bearing (100) includes a permanent magnet radial bearing stator (106) fixed to the stator assembly (122) and a permanent magnet radial bearing rotor (108) fixed to the rotor assembly (120). The radial bearing (100) is configured such that the radial bearing stator magnets (106) and the radial bearing rotor magnets (108) are axially offset from each other when the pump is at rest.