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$10K for "totally underwater" is not a fair trade. But the silver lining is you now have the higher title on your resume. If I were you, I'd start quietly looking. You can interview for the same level at a different company where the expectations might actually match the pay. You've done the hard part by proving you can handle the role. Now go find someone who'll pay you properly for it.
Your employer thinks that $10,000 raise was a big deal. As a result, they want to get as much as they can from you to justify that raise.