It would be great if you know them both
vs
It would be great if you knew them both
How do these sentences differ from each other?
It would be great if you know them both
vs
It would be great if you knew them both
How do these sentences differ from each other?
When talking about hypothetical situations, we use the subjunctive were for the verb be and a backshifted tense for all other verbs.
It will be great if you know them both - real
It would be great if you knew them both - hypothetical
Note that there are two verbs- one in the if clause, the other in the main clause. Both verbs must be treated the same- both backshifted, or both not backshifted.
The second of your sentences is clearly hypothetical- both verbs are backshifted (will->would, know->knew). The first sentence is grammatically incorrect: the first verb is backshifted, but the second is not. You might hear somebody saying this in everyday conversation, but you should not write like this.