You learn this spell at your DM's discretion
From your extensive practice of magic you have learned to absorb the arcane energy within the world around you. Upon casting Arcane Channelling you enter a meditative state floating at least 5 feet in the air (if you are not already in the air from the effects of flight) Meditation can take place anywhere from 1 minute up to the full duration of an hour, this can only be used outside of combat.
Meditation duration effect
1 minute Caster can restore 1 level 3 or lower spell slot
5 minutes Caster can restore 2 level 3 or lower spell slots
10 minutes Caster can restore 1 level 5 or lower spell slot
15 minutes Caster can restore 2 level 5 or lower spell slots
20 minutes Caster can restore 3 level 4 or lower spell slots
30 minutes Caster can restore 2 level 6 or lower spell slots
45 minutes Caster can restore 2 level 7 or lower spell slots
1 hour Caster can restore 8 level 8 or lower spell slots
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Posted Jun 20, 2022"You learn this spell at your DMs discretion" It's homebrew, that's the case for all homebrew.
"This can only be used outside of combat" A given due to how long even the lowest recovery time is.
On to the effect itself, this is basically the Arcane Recovery feature turned into a spell, except you mad it something people could do as many times as they want and you gave them a way to recovers spell slots of higher levels and without having to take a short rest. Making that feature pointless if a Wizard can simply spend a minute or two after every fight to recover their low level spells. This being a cantrip means that they can do this 4 times instead of taking a short rest in order to recover basically all of their spells, There is no balance here. it seems to simply be a case of "I don't think Arcane Recovery is powerful enough, so lets break it"
As a DM I would not allow this spell, as a player I would not want to use this spell because it makes it too easy to be a spellcaster, I would basically not have to worry about spell slots from the moment I take this as a cantrip. This is even more insane for Sorcerers, who can use metamagic points, convert their spells to points to refill those, and then immediately use this cantrip to regain their spells.