jagat - the whole world; bhāsila - floated; caitanya-līlāra - of the pastimes of Śrī Caitanya Mahāprabhu; pāthāre - in the inundation; yāṅra - of whom; yata - as much; śakti - power; tata - that much; pāthāre - in the inundation; sāṅtāre - swims.

The whole world became merged in the inundation of the pastimes of Śrī Caitanya Mahāprabhu. One can swim in that water to the extent that he has the strength.