Cancel payment what happens at eBay?

[H0W]

I am the buyer.

I won an auction at eBay and paid thru paypal.

The payment has gone unclaimed (I assume the seller hasn't entered the correct info yet.)

Paypal has given me the option to cancel.

If I do cancel, what happens on the eBay end? (this is my question)

Does eBay close the transaction and delete the order from my order history?

Or does the order revert to unpaid, and I am allowed to make payment again?