Jumpa is a slang term for a 'jump shot' in basketball, adapted from the English word 'jumper'. It's a perfect example of Spanglish used in modern reggaetón.
In the song, Arcangel and Bad Bunny rap "Luka, step-back, la jumpa", referencing the famous and nearly unstoppable step-back jump shot of basketball superstar Luka Dončić. They use this metaphor to say their musical hits are as slick and guaranteed to score as Luka's signature move.
This song is a massive flex from two of the biggest names in reggaeton, Arcangel and Bad Bunny. It's all about their wealth, fame, and legendary status. Arcangel kicks it off by bragging about living in a mansion so big he doesn't even know the address, claiming "En ella puedo aterrizar un avión / Sólo me falta la pista" (I can land a plane in it / I just need the runway). He and Bad Bunny see themselves as an unbeatable team, a "combinación / De flow una ensalada mixta" (combination / A mixed salad of flow), and they warn any rivals that when it comes to greatness, they're simply not on the list.
Bad Bunny jumps in with the same energy, boasting about his universal appeal. He says he's heard by everyone from grandparents to gangsters, "Doctores y gánsters / Naturales y con implantes" (Doctors and gangsters / Natural and with implants). He compares his consistent success to a basketball player hitting a game-winning shot, calling himself a "pitcher" who is throwing a "no hitter" game. Both artists also get very explicit about their encounters with women, presenting themselves as once-in-a-lifetime experiences. They each introduce themselves by name, telling the women they're with a "leyenda que no va a volver a nacer" (a legend that will never be born again). It's a track full of confidence, clever wordplay, and pure star power.