Ask HN: What is it like to work on pager duty?

I might be switching teams at the company where I work at. The new team seems quite interesting to be part of, but they have pager duty (they cycle and each developer is on pager duty for a week). I was hoping to get some input from folks here who have worked on that sort of team, to get an idea of what it's like to work in a team like this. Does it impact overall health too much? Would you say it's an interesting experience to go through?