It means you are third in waiver priority. So let's say you put in for a waiver for.. A better RB (judging by your current setup), and 1 other guy puts in a waiver for the same RB, if he is after you in the waiver priority you win when the waivers process (usually Wed at like 2 am PST or something), but if he is ahead of you in the waiver process, he wins the pick. If the waiver goes through, your waiver priority takes a hit and you are usually lowered a few digits. If it doesn't go through, you keep the same number or move up (if someone ahead of you uses a waiver pick). Waivers are unlimited, but if everyone is wanting the same pick, then it's in your best interests to keep your number at 3 or higher.