The Standard league waiver process begins daily at approximately 4 a.m. ET.  To help prevent the issue of cycling players through free agency, a player that is added and released on the same day will remain a free agent. 

In LM leagues, this setting can only be changed by the League Manager prior to the league's draft. Below are the available LM league options for Waivers period:

• No Waivers- If selected, players will NEVER be moved to waivers. Rather, all available players are always free agents.
• 1 Day- this is the default setting. Most players will clear Wednesday AMs.
• 2 DaysMost players will clear Thursday AMs.

If a player is dropped during the week (i.e. on Thursday afternoon), the player will be listed on waivers for the set length of total days set in your league rules. For example, suppose your waiver period is set for 1 day. This means the waiver will process at the next waiver processing that is at least a full 24 hours (1 day) later. So, if you drop a player at 8 p.m. ET on Thursday, your waiver will run on or about 4 a.m. ET Saturday - the next scheduled running of waivers that is at least 24 hours past the time the player was dropped.

NOTE: Any waiver claims which are pending at the time the Waiver Period rule is changed, will be grandfathered and changed for players moved to waivers moving forward.