Renewable energy sources require effective energy management systems to be efficient in smart grids. Although electric vehicles are all potential consumers, using electric vehicle batteries is an effective utilisation strategy for smart grids. Vehicle-to-grid (V2G) is a crucial future technology for the smart grid. V2G technology proposes employing electric vehicles to contribute the stored energy to the other intelligent grid users. Expansion of the V2G technology is possible by funding, installing, and optimal managing the charging stations. In this work, an economic value of V2G operation is proposed, and an advanced scheme of a V2G operations communication protocol that enables flexible control of the charging and discharging operations of the EV in an optimisation way has been developed, based on an energy arbitrage service, using two different discharge rates study. An economic study based on energy arbitrage using problem optimisation has been depicted. A use case based on the Nissan Leaf 40 kWh was simulated. The results show the economic benefit of using high discharge rate power (i.e., 3C) to the Li-ion battery over the regular discharge rate (1C).