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sub equal {
   return 1 if @_ < 2;
...
   shift;
   goto(&equal);
}

sub equal {
   while (@_ >= 2) {
...
   }
   return 1;
}

use strict;
use warnings;
...
   equal_i  => sub { my $rv = equal_i (@list) ?1:0; 1; },
   equal_i2 => sub { my $rv = equal_i2(@list) ?1:0; 1; },
});

            Rate equal_pm  equal_i equal_i2
equal_pm 17854/s       --     -51%     -74%
equal_i  36454/s     104%       --     -46%
equal_i2 67523/s     278%      85%       --