diff --git a/share/functions/__fish_cancel_commandline.fish b/share/functions/__fish_cancel_commandline.fish
index 23c76aa78..79bc3b302 100644
--- a/share/functions/__fish_cancel_commandline.fish
+++ b/share/functions/__fish_cancel_commandline.fish
@@ -1,27 +1,30 @@
+function __fish_setup_cancel_text -v fish_color_cancel -v fish_color_normal
+    set -g __fish_cancel_text "^C"
+    if set -q fish_color_cancel
+        set __fish_cancel_text (echo -sn (set_color $fish_color_cancel) $__fish_cancel_text (set_color normal))
+    end
+    if command -sq tput
+        # Clear to EOL (to erase any autosuggestions)
+        set __fish_cancel_text (echo -sn $__fish_cancel_text (tput el; or tput ce))
+    end
+end
+__fish_setup_cancel_text
+
 # This is meant to be bound to something like \cC.
 function __fish_cancel_commandline
-    # Close the pager if it's open (#4298)
-    commandline -f cancel
-
     set -l cmd (commandline)
     if test -n "$cmd"
-        commandline -C 1000000
-        if set -q fish_color_cancel
-            echo -ns (set_color $fish_color_cancel) "^C" (set_color normal)
-        else
-            echo -ns "^C"
-        end
-        if command -sq tput
-            # Clear to EOL (to erase any autosuggestion).
-            echo -n (tput el; or tput ce)
-        end
-        for i in (seq (commandline -L))
-            echo ""
-        end
+        echo -sn $__fish_cancel_text
+        # `commandline -L` prints the line the cursor is on (starting from the prompt), so move the cursor
+        # "to the end" then call `commandline -L` to get the total number of lines typed in at the prompt.
+        commandline -C 10000000
+        printf (string repeat -n (commandline -L) "\n")
         commandline ""
         emit fish_cancel
     end
-    # Repaint even if we haven't cancelled anything,
-    # so the prompt refreshes and the terminal scrolls to it.
-    commandline -f repaint
+
+    # cancel: Close the pager if it's open (#4298)
+    # repaint: Repaint even if we haven't cancelled anything so the prompt refreshes
+    # and the terminal scrolls to it.
+    commandline -f cancel -f repaint
 end