Jebaited is a Twitch.tv emote featuring the face of organizer of Community Effort Orlando, Alex Jebailey.
It is typically used when a streamer is tricked or believes their chat when they say something completely incorrect.

to bait and switch

To get jebaited means to get the finessed or exposed. One usually shouts this term out when their friend gets roasted, exposed, or finessed. People who are especially good at jebaiting are known as jebait gods, and should be treated with the utmost respect.

(j pronounced like a soft g) To get played or outplayed by yourself or someone/something else

When your friend camps instead of helping to kill the enemy players and takes your loot after you're dead

Twitch's emote used for expressing someone's nature towards another; commonly used as 'you dumbass'

Caught someone slippin or tricked