Contraction of "which will".
(Yes it is a real word. Simply 'cause people use it. Unfortunately for y'all, your fourth grade grammar teacher doesn't get to choose what's right English or whats wrong English. Infact there's nothing such as wrong English. Ask a linguistist, the'll say all language and it's variations are equally correct and valid. No cap.)
Don't be a fucking prescriptivist. Linguists are all descriptivist. Be like that. Which'll help you as well.
Shitty nerds call say its like an abbreviation for "which will," but in reality its actually not a real word that proves autocorrect to be a dumbass
SCENARIO ONE:
Person 1: Hey man, I don't know which side is which'll
Person 2: Which'll??
Person 1: Sorry dude, autocorrect is a DUMBASS
SCENARIO 2:
Person 3: So you dont want to take off the valve to the reactor which'll cause a massive explosion.
Person 4: What is a "which'll"?
Person 3: Dude your like a fucking idiot, it means "which will"
Person 4: Dude your such a Shitty nerd.