Bookmaker Paddy Power are offering odds of 1/2 that Caixinha will no longer be in the Ibrox hot seat by the time Rangers meet Celtic at Parkhead on 30 December.
And frozen-out striker Kenny Miller is the favourite to replace the former Al-Gharafa and Santos Laguna coach with odds of just 3/1.
Former Gers player Billy Davies and Graeme Murty, who managed the team on an interim basis prior to Caixinha’s arrival, are both 5/1 to take the reins.
Dougie Freedman and Garry Monk are at 6/1 and 7/1 respectively while Martin Jol, former boss of Tottenham Hotspur and Fulham, is at 10/1.
Alex McLeish is also at 10/1 for a return to Ibrox while former Hamilton and Norwich boss Alex Neil is at odds of 12/1 alongside Alan Pardew.
Current SFA performance director Malky Mackay is a long shot at 14/1.