She said, "you're such a dog", I said, "you're such a bone."
She is calling him a ‘dog,’ for those lovely bitches, dogs have negative connotations associated with them. In this context she is calling him a womanizer who tries to work his way into some ladypants.
But he’s calling her a ‘bone,’ which alludes to the phrase “give a dog a bone.” In this situation he is saying to give him a break, the only reason he seems like a dog is because she is so god damn sexy.
His response “you’re such a bone” might be a play on how dogs love bones. He’s embracing the dog title and telling her as a response to being called such by calling her a bone, so he still wants to get down.
“Boning” is a euphemism for sex so he might be asking for sex
To help improve the meaning of these lyrics, visit "We'll Be Fine" by Drake (Ft. Birdman) Lyrics and leave a comment on the lyrics box