Pedo is one of the most versatile and common slang words in Mexican Spanish. While it literally means "fart," it's used in countless expressions. For example, estar pedo means "to be drunk," and ¿qué pedo? can mean "what's up?" or "what the hell?"
In this song, Peso Pluma uses the title phrase Ni pedo (and the similar No hay pedo) to mean "no big deal," "whatever," or "oh well." It expresses a sense of resignation and dismissal after heartbreak. Learning this phrase is a masterclass in understanding the nuances of informal Mexican slang.
Mexican artist Peso Pluma teams up with Tito Double P for "Ni Pedo", a corrido tumbado about coping with rejection through heavy drinking and stubborn optimism. The title itself comes from a blunt Mexican slang phrase: "no hay pedo" or "ni pedo" roughly translates to "no problem" or "it is what it is." Throughout the track, the singer is nursing a bruised ego, admitting right out of the gate, "Por quererte, ando pedo y bien agüitado" ("Because of loving you, I'm drunk and really bummed out"). He looks back at memories of being tangled up in bed together ("Todos locos, desnudos, bien abrazados" / "All crazy, naked, tightly hugging") while facing the harsh reality that she won't even look at him now.
The humor in this heartbreak track comes from its dramatic Mexican slang and over-the-top honesty. The singer confesses he is totally hooked ("me traes enculado" / "you've got me infatuated/obsessed"), while his anger and confusion boil over into line after line of self-pity. Things get so gloomy around the house that he notices "Hasta el pinche perro se mira agüitado" ("Even the damn dog looks bummed out"). Still, instead of staying down after another romantic failure, he shrugs it off with "Cupido, otra vez, me traicionó / No hay pedo, al rato, se me pasa" ("Cupid betrayed me again / No big deal, it'll pass in a bit"), before calling for Tito to pass the bottle and take a shot.