Wi-five is a cyber-high-five, and Air-Fave is a long distance high-five..
Mike: Oh theres ryan, Wi-Five!
Ryan: No you idiot, It's AIR-FIVE!
n. the act of lacking the physical strength to actually hi-five someone and resorting to a pushing movement of the right or left hand to someone. This is usually followed by the saying "AIR FIVE". The receiving person has the choice of refusing the "air-five", with a sharp reply of "BLOCK" with both arms crossed.
Evan: Hey Ari, nice thats-what-she-said-joke! Air-Five!