It is based on a calculation of feed rates and distances, with the default acceleration and deceleration values in my default firmware. You can adjust it to be more accurate with other firmware but if it's so far off there's something else wrong.
Have you calibrated your machine? Are the sizes correct, like the samples in the Help menu?
What firmware are you using, if it's the old Benbox Grbl 0.8 then that would explain the problem as it's incredibly slow.