This is the 402nd most frequent Icelandic word.
líður
The Icelandic word "líður" means "feels" or "passes" (as in time passing), depending on the context.
In this sentence, 'líður' is used to express how the subject feels mentally or emotionally, equivalent to 'feel' in English.
Mér líður vel í dag.
I feel good today.
Here, 'líður' describes the passage of time, meaning 'passes' or 'flows' in English.
Tíminn líður hratt þegar maður skemmtir sér.
Time passes quickly when one is having fun.
In this context, 'líður' refers to a physical sensation, indicating the specific feeling experienced.