To add a bit of informations; Like told "ça baigne" is rarelly used for any young adult. To note when it's used it's often used in a more familiar's way than "ça va" (less formal)

Such way is often told;

"ça baigne mon coco"
"ça baigne, mon vieux ?"
"ça baigne, mon frêre ?"

As you can see the construction of the sentance differ a bit than a more formal "ça va".

To add a bit of information; As previously said, "ça baigne" is rarely used by any young adult. Note: when it's used it's often used in a more familiar way than "ça va" (less formal).

It can be told in the following contexts:

"Ça baigne, mon coco ?"
"Ça baigne, mon vieux ?"
"Ça baigne, mon frêre ?"

As you can see, the construction of the sentence differ a bit from a more formal "ça va".