Green’s Dictionary of Slang

five-eight n.

[rhy. sl. = mate n.1 (1); ult. a position in the game of rugby]

(Aus. prison) a friend.

[Aus]J. Alard He who Shoots Last 136: If he’s yer five-eight ya got nuttin’ ta be noivous about.
[Aus]Tupper & Wortley Aus. Prison Sl. Gloss. 🌐 Five-eight. Friend.
[NZ]D. Looser Boobslang [U. Canterbury D.Phil. thesis] 70/1: five-eight n. one’s best mate.