The Volts were dismissed for 142 in their second innings, with paceman Hamish Bennett the main destroyer with 4-30 to make it seven wickets for the match.
The Firebirds are on maximum points after two rounds, having also won their season opener against Auckland by an innings, and that fixture finished inside three days as well.
In Rangiora, Northern Districts will start their chase of a 245-run victory target when play resumes on Thursday.
It was a remarkable turnaround for the visitors, who were stranded at 163-7 in response to Canterbury's 381, but a punishing 116 from Anton Devcich brought them to 339, before their bowlers took over.
Canterbury could only manage 202 all out in their second dig, Sydney-based all-rounder Daniel Sams top-scoring by smacking 88, including six sixes.
- NZN