My friends with benefits has been calling me "bae." why?

My friends with benefits been calling me bae. He has admitted to me that he wants a relationship with me. I told him I'm not ready since I don't have time for one. Is not like I rejected him. But ever since he's been calling me bae a lot recently. Does he already see me as his gf?
My friends with benefits has been calling me "bae." why?
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