I'm in between jobs now and am down leveling in my new role to a senior developer from an architect/manager/lead dev with just as much pay and comparable benefits and plenty of other appealing aspects. It took me 4 months to find the right position, but I was patient. The excitement and relief are palpable.
FAANG companies have never interested me much so I'm willing to take a lower comp, but I still do really well for my area.
My point is that it just isn't worth the headache. A retention bonus probably isn't life changing money so ask if it is worth it at all. Maybe you'll get it before you find that new job, maybe you won't. But focus on what will make your life better, not just compensation and titles.
You're being taken advantage of and not compensated for what you bring to the table.
Good luck!