Vertical axis wind turbines (VAWTs) are superior because they have compact structure, good wind adaptability and strong scalability. The coupling dynamic response mechanisms between different configurations of wind turbines and floating platforms are different. Based on the CFD method, dynamic fluid body interaction (DFBI), overlapping grid and dynamic grid techniques are used for numerical simulations. The force characteristics and self-starting features of H-type and Φ-type VAWTs are compared. The aerodynamic performance and motion response of the floating VAWT (FVAWT) are studied under different tip-speed ratios (TSR) and aspect ratios (η). The results show that the power coefficient (Cp) of H-type and Φ-type FVAWTs reaches the peak when TSR = 6 and TSR = 7, respectively. The optimal η for both is 1.2. The H-type FVAWT improves the Cp by 34.3% compared to Φ-type FVAWT. H-type FVAWT has a large thrust and excellent stability. The Φ-type FVAWT requires less initial thrust, and the self-starting performance is 12% superior to H-type FVAWT. With the increase of TSR and η, the heave motion of both FVAWTs is almost unaffected, but the pitch motion sensitivity is stronger. The heave amplitude of H-type FVAWT is 282% larger than Φ-type FVAWT, which has a gain effect on energy conversion. The Φ-type FVAWT has better safety. The strengthened structure of Φ-type VAWT has a noticeable impact on velocity and vortex distribution. In addition, the aerodynamic and hydrodynamic performance of the FVAWT is improved. •A nonlinear fully coupled time domain model including vertical axis wind turbine, floating platform and mooring system is established.•The difference of energy efficiency and thrust characteristics between floating vertical axis wind turbine with different configurations are studied.•The optimal parameters and strengthening structure design of megawatt vertical axis wind turbine with different configurations are explored.•The coupling mechanism and energy conversion characteristics between vertical axis wind turbine and floating platform are studied.