Split peas, ridiculous price (8)
I believe the answer is:
separate
'split' is the definition.
(I know that split can be written as separate)
'peas ridiculous price' is the wordplay.
'ridiculous' is an anagram indicator.
'price' becomes 'rate' (I've seen this in other clues).
'peas' is an anagram of 'sepa'.
'sepa'+'rate'='SEPARATE'
(Other definitions for separate that I've seen before include "divorce" , "Different, distinct" , "Not joined or united with others" , "Pull apart" , "Unconnected" .)