In general, one can use map to pass keywords to a function by wrapping that function in something which unpacks a dictionary, and then passing an iterable of dictionaries to map. Example:
from itertools import product
volume_ids = [1,2,3,4,5]
volume_ids = (("volume_id", volume_id) for volume_id in volume_ids)
ips = [("ip", '172.12.13.122')]
kwargs_iterable = map(dict, product(volume_ids, ips))
result = map(lambda kwargs: my_function(**kwargs), kwargs_iterable)
For your special case, however, a simpler solution would be:
map(my_function, volume_ids, [ip]*len(volume_ids))
This is concise and does not rely on any imports. Another possibility could be to combine product and starmap from itertools:
from itertools import product, starmap
ips = [ip]
starmap(my_function, product(volume_ids, ips))
This generalizes nicely to the setting with more than one ip adress, or more than two variables.