$ VBoxManage clonehd dynamic.vdi static.vdi --format VDI --variant FixedHowever, in Arch at least this command seems to wreak havoc with normal OS function. Things just kind of quit working, kwin, chromium, they all sort of die. Not just slow due to disk thrashing, but actually die. I'll have to leave it overnight and see if it actually works.
Another issue I found is that I have my virtualbox VM folder soft linked into my home folder, but stored in my Documents. I had to first delete this link otherwise VBoxManage refused to work due to finding a disk with a duplicate UUID.