Bubadixe is a very vercitile term that can either show affection or be used to add to an insult. It has no real meaning, and is mainly just put in sentences to give them flavour. It's like salt, except for a sentence.
Generic Person No.1: "What up, Generic Person No. 2?"
Generic Person No.2: "Nothin' much. What up for you, bubadixe?"