A system that violates detailed balance evolves asymptotically into a non-equilibrium steady state (NESS) with non-vanishing currents. Analogously, when detailed balance holds at any instant of time but the system is driven through time-periodic variations of external parameters, it evolves toward a time-periodic state, which can also support non-vanishing currents. In both cases the maintenance of currents throughout the system incurs a cost in terms of entropy production. Here we compare these two scenarios for one dimensional diffusive systems with periodic boundary condition, a framework commonly used to model biological and artificial molecular machines. We first show that the entropy production rate in a periodically driven system is necessarily greater than that in a stationary system without detailed balance, when both are described by the same (time-averaged) current and probability distribution. Next, we show how to construct both a NESS and a periodic driving that support a given time averaged probability distribution and current. Lastly, we show that although the entropy production rate of a periodically driven system is higher than that of an equivalent steady state, the difference between the two entropy production rates can be tuned to be arbitrarily small.