There are a few experimental Matlab m-file script models for two-phase flows implemented with the level-set method. However, they do not include re-initialization of the level set field, so simulations will likely diverge after some time (one would have to add level-set "reinitialization/redistancing" either as a custom
solver_hook after each time step, for example using the "fast marching method" or "PDE based pseudi-time stepping").
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Matlab simulation of a static bubble with surface tension-
Matlab simulation of a rising bubble-
Matlab dam break simulation script