"Kayfabe" is a bit of terminology that's used by insiders in the pro wrestling business. It refers to events that are portrayed to the audience as being "real" but that aren't actually "real" in real life.
For example, if Wrestler X and Wrestler Y are involved in a storyline where they hate each other's guts, but then they're best friends backstage, the hatred between Wrestler X and Wrestler Y is said to be "kayfabe."
Given that, I would presume that in the context of this song, "kayfabe friends" are people who act like they're your friends but really aren't.
"Kayfabe" is a bit of terminology that's used by insiders in the pro wrestling business. It refers to events that are portrayed to the audience as being "real" but that aren't actually "real" in real life.
For example, if Wrestler X and Wrestler Y are involved in a storyline where they hate each other's guts, but then they're best friends backstage, the hatred between Wrestler X and Wrestler Y is said to be "kayfabe."
Given that, I would presume that in the context of this song, "kayfabe friends" are people who act like they're your friends but really aren't.