I can tell you how I repaired floats if it is 100% animal fiber.
It will sound scary, and is probably crazy, but it works.
I pull the float out into a loop that is big enough to get my hands or at least a couple of fingers through. Then I cut it and weave the ends back to where they belong, and spit-splice it by overlapping it slightly--about 1/2 inch—rub the sections together until you can feel a little heat which melds the ends together. then gently smooth it out. Word of caution, though. don't forget to weave them back in before splicing. Ask me how I know this. LOL. After you wash it you will not be able to tell where the floats were.