This would be fairly trivial to test yourself. But just some tips: There is some overhead per subroutine call; each call pushes a lexical scope onto the call stack, to be popped off later. That's not free, but unless you're working inside of tight loops it's usually not something you need to care about. Also, Perl does support recursive subroutines, and only starts spitting out warnings when your recursion reaches 100 levels deep. Recursion isn't special in Perl (ie, there's no tail-call optimization), so each recursive call is another push onto the call stack. That should give you some reassurance that even 100 levels deep is possible.
Remember, the deep recursion warning is just a warning, intended to clue developers in to the fact that they might have some runaway recursion. Even that warning can be silenced or ignored if you're ok with being 100 levels deep in sub calls. Perl doesn't arbitrarily limit you. You're free to use all available memory on the subroutine call stack if you wish. You're unlikely to come up with a reasonable design that takes you anywhere close to that though.