A common saying in New Zealand, meaning 'we're even', or 'we're okay'. Alguds is mostly used when one person wrongs another.
"Oh G, I got sumthin to tell you"
"What be it cunt?"
"Bro I fucked your sister last night"
"Yo fuck yo cunt, what be my nigga?"
"Nuffin much cuz, just raxed this faggot's phone, stupid fuck left it on a fuckin bench"
"Ow that's my phone cunt!"
"Fuck you bitch, its mine now cunt"