diff --git a/src/renderer/generic.zig b/src/renderer/generic.zig
index 578ab1779..476aa31ec 100644
--- a/src/renderer/generic.zig
+++ b/src/renderer/generic.zig
@@ -2225,23 +2225,46 @@ pub fn Renderer(comptime GraphicsAPI: type) type {
                 const cursor_width: f32 = @floatFromInt(cursor.glyph_size[0]);
                 const cursor_height: f32 = @floatFromInt(cursor.glyph_size[1]);
 
+                // Left edge of the cell the cursor is in.
                 var pixel_x: f32 = @floatFromInt(
                     cursor.grid_pos[0] * cell.width + padding.left,
                 );
+                // Top edge, relative to the top of the
+                // screen, of the cell the cursor is in.
                 var pixel_y: f32 = @floatFromInt(
                     cursor.grid_pos[1] * cell.height + padding.top,
                 );
 
-                pixel_x += @floatFromInt(cursor.bearings[0]);
-                // Convert the Y coordinate from bottom-to-top to top-to-bottom.
-                // Otherwise we end up with glyphs like underline at the top of the cell.
-                pixel_y += @floatFromInt(@as(i32, @intCast(cell.height)) - cursor.bearings[1]);
-
-                // If +Y is up in our shaders, we need to flip the coordinate.
+                // If +Y is up in our shaders, we need to flip the coordinate
+                // so that it's instead the top edge of the cell relative to
+                // the *bottom* of the screen.
                 if (!GraphicsAPI.custom_shader_y_is_down) {
                     pixel_y = @as(f32, @floatFromInt(screen.height)) - pixel_y;
                 }
 
+                // Add the X bearing to get the -X (left) edge of the cursor.
+                pixel_x += @floatFromInt(cursor.bearings[0]);
+
+                // How we deal with the Y bearing depends on which direction
+                // is "up", since we want our final `pixel_y` value to be the
+                // +Y edge of the cursor.
+                if (GraphicsAPI.custom_shader_y_is_down) {
+                    // As a reminder, the Y bearing is the distance from the
+                    // bottom of the cell to the top of the glyph, so to get
+                    // the +Y edge we need to add the cell height, subtract
+                    // the Y bearing, and add the glyph height to get the +Y
+                    // (bottom) edge of the cursor.
+                    pixel_y += @floatFromInt(cell.height);
+                    pixel_y -= @floatFromInt(cursor.bearings[1]);
+                    pixel_y += @floatFromInt(cursor.glyph_size[1]);
+                } else {
+                    // If the Y direction is reversed though, we instead want
+                    // the *top* edge of the cursor, which means we just need
+                    // to subtract the cell height and add the Y bearing.
+                    pixel_y -= @floatFromInt(cell.height);
+                    pixel_y += @floatFromInt(cursor.bearings[1]);
+                }
+
                 const new_cursor: [4]f32 = .{
                     pixel_x,
                     pixel_y,