The Blue Dragon is distributed throughout the world's oceans, in temperate and tropical waters. Regions where this slug is found include the East and South Coast of South Africa, European waters, the east coast of Australia and Mozambique. This species floats upside down on the surface tension of the ocean.
Atlanticus preys on other, larger pelagic organisms: the dangerously venomous Portuguese Man o' War Physalia physalis; the by-the-wind-sailor Velella velella; the blue button Porpita porpita; and the violet snail, Janthina janthina. Occasionally, individual Glaucus become cannibals given the opportunity.