Joshua Van may have just delivered the performance of a lifetime at UFC 328, but the oddsmakers still aren't convinced he's the best in the world.

In the co-main event last weekend at Newark's Prudential Center, "Fearless" made his first defense of the 125-pound title with a thrilling fifth-round submission victory over Tatsuro Taira. The bout earned "Fight of the Night" honors and cemented Van as the undisputed flyweight champion—but the betting lines tell a different story.

According to BetOnline.ag, Van remains the underdog in potential matchups against two of the division's biggest names. For a rematch with Alexandre Pantoja, Van sits at +150, while "The Cannibal" comes in at -175. In a potential title defense against Manel Kape—assuming "Starboy" gets past Kyoji Horiguchi in their June rematch—Van is even further behind at +135, with Kape favored at -255.

The odds are especially interesting given that Van already holds a win over Pantoja, albeit under controversial circumstances. Their first meeting at UFC 323 ended early when Pantoja suffered a broken hand, leaving questions about what might have been.

"I saw [Pantoja] and shook his hand, I don't have a problem," Van told Full Send MMA backstage at UFC 328. "But I don't like him making it seem like I'm the bad guy. We fought and you fell and broke your hand. If you want to run it, be respectful. You don't have to make all these stories."

For now, Van's next Octagon appearance remains up in the air. But if the oddsmakers are underestimating him, the champion has already proven he thrives on proving people wrong.