I can answer that for Common Lisp, specifically the SBCL implementation (there's several others). It compiles every function to native code (you can even inspect the assembly with `disassemble`). Macros are executed before code is compiled. Hence, once you've compiled a function, the macro disappears since its only role is to generate the expressions that are going to actually be compiled and then executed.

For example, here's a simple CL macro:

    (defmacro defer (cleanup &body action)
         `(unwind-protect (progn ,@action) ,cleanup))

`unwind-protect` is like a `try/finally` in other languages, and I used that above to create something similar to `defer` in Go/Zig which is related to it, but with the operands inverted.

The ` symbol is a quasiquote. Unlike quote `'` it lets you unquote symbols inside with the , operator. That's why you'll always see a bunch of '`' and ',' in macros.

The @, thing is a "spread" (looks different in Racket from what I saw in the post, which used `...`). It just spreads whatever was on the list in the place you put that on, so if `action` is `(p 1) (p 2)`, then `(progn ,@action)` becomes `(progn (p 1) (p 2))`.

You can inspect what the actual code that will be compiled looks like with `macroexpand`:

    CL-USER> (macroexpand '(defer (cleanup) (do-something)))
    (UNWIND-PROTECT (PROGN (DO-SOMETHING)) (CLEANUP))

`progn` is a "special operator" that's needed when you want more than one expression to be evaluated in order.

Example calling the macro:

    CL-USER> (defer (print "done") 
               (print "hello")
               (print "again"))

    "hello" 
    "again" 
    "done"

As you can see, it executed the deferred expression last.

We can prove that macros disappear after compile-time with an example:

    CL-USER> (disassemble (lambda (x) (+ x x)))
    ; disassembly for (LAMBDA (X))
    ; Size: 36 bytes. Origin: #x8005F70664                        ; (LAMBDA (X))
    ; 64:       AA0A40F9         LDR R0, [THREAD, #16]            ; binding-stack-pointer
    ; 68:       AA0B00F9         STR R0, [CFP, #16]
    ; 6C:       EA030CAA         MOV R0, R2
    ; 70:       EB030CAA         MOV R1, R2
    ; 74:       297E80D2         MOVZ TMP, #1009
    ; 78:       5E6B69F8         LDR LR, [NULL, TMP]              ; SB-KERNEL:TWO-ARG-+
    ; 7C:       DE130091         ADD LR, LR, #4
    ; 80:       C0031FD6         BR LR
    ; 84:       E00120D4         BRK #15                          ; Invalid argument count trap

You can see the Assembly is very simple for `(+ x x)` (the ADD instruction plus a bunch of stack/error maintenance).

If we instead had a macro that did this:

    (defmacro my-macro (x) `(+ ,x ,x))

And a function used that:

    (defun f (x) (my-macro x))

Now, disassembling the function:

    CL-USER> (disassemble #'f)
    ; disassembly for F
    ; Size: 36 bytes. Origin: #x8005C00374                        ; F
    ; 74:       AA0A40F9         LDR R0, [THREAD, #16]            ; binding-stack-pointer
    ; 78:       AA0B00F9         STR R0, [CFP, #16]
    ; 7C:       EA030CAA         MOV R0, R2
    ; 80:       EB030CAA         MOV R1, R2
    ; 84:       297E80D2         MOVZ TMP, #1009
    ; 88:       5E6B69F8         LDR LR, [NULL, TMP]              ; SB-KERNEL:TWO-ARG-+
    ; 8C:       DE130091         ADD LR, LR, #4
    ; 90:       C0031FD6         BR LR
    ; 94:       E00120D4         BRK #15                          ; Invalid argument count trap

Same thing exactly.

I don't know Racket, but knowing it can compile to binary, I expect macros in Racket would work exactly the same.