she wants you to be her boy-toy/tool. she wants to be exclusive fukk buddies without the guilt of "breaking up with you" when she'll get tired of it and without the shame of feeling like a hoe cause she'll feel at least she isn't sharing you (she's trying to run game on you).
you need to smash and dash but to do that you need to flip the dynamic on her.
here's what you should do. when you talk to her tell her you feel the "no-label" thing and that it makes things more simple. then tell her to come over to your place. She'll have an excuse on why she can't. You tell her "cool" and legit throw her in the bushes. after a few days she'll text you to try to get your attention again. keep your replies short and vague. don't initiate anything. She will try to set up a meet. Tell her at your place. If she flakes, forget about her completely. If she contacts you after flaking tell her "this whole thing isn't working out so we should just stay cool, no hard feelings." If she comes to your place make your move and if she doesn't cooperate, be cool and tell her you got some shyt you need to take care of and gently kick her out. if she calls again give her the same "this ain't working out" speech i recommended earlier.
In other words, you need to treat her like a fukkbuddy you're already fukking.