The song "Trading Places" by Lil 2jay tells the story of a personal struggle and the pain of losing a loved one. The lyrics express the singer's deep emotions and regrets about not being able to trade places with his brother, who has passed away. The song also touches on themes of fame, love, and coping with heartache. The chorus emphasizes the desire for patience and receiving love from different places, as well as the pain of seeing someone else in a state of suffering. The verses describe the singer's experiences with depression and the hardships of life, along with the support from friends and the challenges of personal growth. Overall, the song reflects on the complexity of emotions and the longing for change in difficult circumstances.