At a previous company, on-call was optional and we were compensated for that week when we were on call (an extra $500, IIRC.) About 50% of the team of 12 participated, meaning your week came up basically every month and a half. This seemed fair.
If your company doesn't want to pay for the aggravation, put your phone on silent, make sure alarms escalate to your manager, and start looking for another job.
If your company doesn't want to pay for the aggravation, put your phone on silent, make sure alarms escalate to your manager, and start looking for another job.