Kula exchange is a ceremonial exchange network which covers the linguistically and culturally diverse island communities of the Massim Archipelago of southeastern Papua New Guinea.

Kula involves the competitive exchange of ranked ceremonial objects, the most important of which are armbands/bracelets (mwali) and necklaces (soulava). Necklaces and armbands travel in different directions around the Kula exchange ring, with necklaces moving clockwise and armbands anti-clockwise. In the past armbands were exchanged in pairs however today they move around the circuit alone.

Such overseas transactions are accompanied by much magic and ceremony. As well as being of considerable ceremonial significance Kula exchange plays a role in maintaining relations between the different peoples of the region and is accompanied by less formal trade and exchange. Being seen to be successful in Kula exchange is important in gaining and maintaining prestige and status.