The cost of doing it in software is just a highly predictable (not taken) branch after every integer arithmetic operation that the compiler can't prove stays within bounds. The article presents no data on this cost. I have none to hand either, but I'm going to predict that on a modern CPU with typical workloads it will be small enough that it would be very hard to measure.
The article speaks as though doing it in hardware would be free, but that's very far from true. The hardware solution might have a nominal cost of 'zero clock cycles' where overflow doesn't occur, but extra transistors in critical, heavily used parts of the CPU core would be burning a small but nonzero amount of energy all the time even on code that doesn't use the overflow check - i.e. the vast majority.
If you think overflow check is a great feature (of which personally I'm not at all convinced), go ahead and add it to a new language or provide it as a library function in an existing language. But imposing it as an inescapable tax on all hardware makes no sense whatsoever.