A display substrate and a display device are provided. The display substrate has a plurality of sub-pixels arranged in a plurality of rows and columns, and includes a base substrate, a driving circuit layer, a light-emitting device layer, and a black matrix layer, the driving circuit layer includes a first signal line and a second signal line arranged parallel to each other and arranged periodically, the black matrix layer includes a plurality of first light-transmitting openings and a plurality of second light-transmitting openings, orthographic projections of one row of second light-transmitting openings on the base substrate are between an orthographic projection of one first signal line shared by pixel driving circuits of at least one row of first sub-pixels on the base substrate and an orthographic projection of one second signal line shared by pixel driving circuits of at least one row of second sub-pixels on the base substrate.