Green’s Dictionary of Slang

soda n.2

[play on SE baking soda]

(US drugs) a form of injectable cocaine used in Hispanic communities.

Reyes Ramos ‘An Ethnographic Study of Heroin Abuse by Mexican Americans in San Antonio, Texas’ on Texas Commission on Alcohol and Drug Abuse 🌐 ‘Appendix A: Gloss. of Tecato Argot’ Soda – cocaine.
Austin American-Statesman (TX) 4 Oct. 9/4: Texas Prison Gang Slang [...] Soda: Cocaine.
[US]ONDCP Street Terms 20: Soda — Injectable cocaine.