Berrios was released Wednesday after four seasons in New York when talks on a possible restructured deal fell through.
In 2021, Berrios was named first-team All-Pro as a kick returner and caught 46 passes for 431 yards — both career highs — but his production and playing time declined in 2022, when he had 18 receptions for 145 yards with zero touchdowns.
Bailey, who signed a one-year deal with the Dolphins, also struggled to find his form last season before being placed on injured reserve in November then being suspended for the final two games of the season.
The 25-year-old Bailey was a first-team All-Pro in 2020.
Information from ESPN’s Rich Cimini and Mike Reiss was used in this report.