What about a Con statement?
Con(raster1 = raster2, 0, (raster1 - raster2))
so, output is "0" where raster1 equals raster2, and raster1 - raster 2 where they are not equal.
If raster1 =1 and raster2 = 0, you get 1 as output
If raster1 = 0 and raster2 =1, you get -1 as output
So final output has 0 where the inputs are the same, 1 where raster1 is true and raster2 is false, and -1 where raster1 is false and raster2 is true.
As for extents, select the "Environments" button at the bottom of the tool window, select "Processing Extent" and choose Union of Inputs, to get the combined extent of all the input data.
Regards,
Jim