Queerplatonic relationships (sometimes called “Quasiplatonic relationships”) are relationships that are neither purely romantic nor purely friendship, but something in between.
As always, it’s the people involved who define what their relationship is and whether it’s queerplatonic or just friendship, but it’s usually defined as a relationship with intense emotions that are neither romantic nor sexual. So it’s more than just friends, but you’re not in love and you don’t have sex. You can, however, want to cuddle with the other person and be physically close.
Just as you can live together or have separate living spaces in a romantic relationship, there is no set template for what a queerplatonic relationship should look like. Some live together while others have separate living spaces and meet whenever they want.
Many who are in a queerplatonic relationship are aromatic and/or asexual, but you don't have to be. You can be cis, trans or non-binary and be hetero, homo, bi or any other sexual orientation. Some people have romantic relationships with others and a queerplatonic relationship with one specific person, while others, e.g. aromantics and asexuals, only have queerplatonic relationships.