he's NOT my boyfriend but

Alexis 🇺🇸
He calls me on the daily. We see each other often. We sleep together. He isn't ready for a relationship anytime soon and I don't want to pressure him since we both got out of long term relationships recently. We use to go to high school together and ten years later here we are. He was my first bf my first kiss and my first sex partner. I love him and care for him and he's expressed he feels the same about me. 
But no relationship no commitment. 
He doesn't want to see other people and nor do I but tbh it's hard when here's no commitment. WHAT IS THIS?! 
Somebody whomever is reading can you explain this? Or have you ever been in this kind of relationship? I don't know whether or not I'm wasting my time or not. I'm up and down about it.