The poem describes a never-ending war between two sides, where both enjoy the struggle but know it's not right. They continue to fight, tearing pieces from each other and feeling hatred, but they hold back from any conclusion. The war is an illusion for them, and they are bound together by a rope. The speaker grows tired of the game and decides to leave, questioning if the other side has taken enough. The poem ends with a suggestion to find love at the loose end of the rope.