@ProfessionalCurser Frequent short stints definitely impact how reliable you’re seen by potential recruiters. You can always justify in an interview but will also be rejected at resume screening stage where you won’t have a chance to explain.
If you like your current team and manager, try getting a raise there itself. Have an honest discussion with your manager regarding the upside potential that you may have if you explore outside. You’ll be surprised how you can get things if you just ask.
If it doesn’t work then you can always apply outside. But never apply for a role and then use the offer letter to negotiate.