The polarimetric and helioseismic imager instrument for the Solar Orbiter mission from the European Space Agency requires a high stability while capturing images, specially for the polarimetric ones. For this reason, an image stabilization system has been included in the instrument. It uses global motion estimation techniques to estimate the jitter in real time with subpixel resolution. Due to instrument requirements, the algorithm has to be implemented in a Xilinx Virtex-4QV field programmable gate array. The algorithm includes a 2-D paraboloid interpolation algorithm based on 2-D bisection. We describe the algorithm implementation and the tests that have been made to verify its performance. The jitter estimation has a mean error of 125  pixel of the correlation tracking camera. The paraboloid interpolation algorithm provides also better results in terms of resources and time required for the calculation (at least a 20% improvement in both cases) than those based on direct calculation.