Pile-supported embankments are one of the most commonly used techniques for ground improvement in soft soil areas. Existing studies have mainly focused on embankments supported by end-bearing piles under static loading, with limited research on floating pile-supported embankments under cyclic traffic loading. In this study, model tests for unreinforced floating, unreinforced end-bearing, geosynthetic reinforced floating, and geosynthetic reinforced end-bearing pile-supported embankments were conducted. Cyclic traffic loading was simulated using a three-stage semi-sinusoidal cyclic loading. Comparative analyses and discussions are performed under floating and end-bearing conditions to investigate the influence of floating piles on the soil arching evolution and membrane effect under cyclic loading. The results indicate that floating piles result in earlier stabilization of surface settlement. There is less arching and membrane effect induced by floating piles, and the arching does not continue to degrade under cyclic loading. Less membrane effect in floating pile-supported embankments results in less geosynthetic and pile strain. The degree of membrane effect in floating pile-supported embankment largely depends on the pile-end condition.