Bandida literally translates to a female "bandit" or "outlaw". In modern slang and reggaeton songs like this one, it has evolved to mean a "rebel" or a "bad girl" who plays by her own rules, especially in love.
When Karol G sings, "Yo soy bandida y tú eres gánster" (I'm a rebel and you're a gangster), she's describing a relationship between two powerful, independent people who don't fit into a traditional romance. It's a fun and empowering word that captures the song's edgy vibe.
This song is all about a breakup... kind of. Karol G and Romeo Santos sing about a relationship that just isn't working out. They admit, "No funcionamos / Lo dimos todo, pero no se nos dio" (We don't work / We gave it our all, but it didn't work out for us). So, they're ending things. But before they go their separate ways, they have one last proposal: let's hook up one more time.
They are super direct about why. The chorus says it all: "Que en el amor no, pero en la cama nos entendemos" (Because in love, no, but in bed we understand each other). They know they're a "desastre" (disaster) as a couple, but their physical chemistry is amazing. They decide to keep things purely physical, leaving the door open for future hookups but not for a real relationship. It's a blunt and honest take on a toxic situation where the sex is just too good to give up, even when the love is gone.