Thank you so much.
- The LED is 'always on'...meter as you would any constant source...it is no different than sunlight (with exception of color temperature and intensity).
- The strobe is 'briefly on'...meter is with a flash meter.
Set the aperture to suit the output of the flash, per the flash meter.
Then adjust the shutter speed to suit the lower intensity (usually) of the LED, compared to the strobe (unless you have manually chosen a low fractional output from the strobe) for the chosen aperture.
The relative strength of LED vs. strobe is simply to achieve what you have in your mind's eye for the shot.