It depends on how you measure it, too.
If you are just using a meter to measure it, you will get a reading of average current.
But in this case the duty cycle will be about 25% or so.
You have a square wave turning on and off at 38 KHz, so that probably has a duty cycle of about 50%, and then you are turning this square wave on and off with a 350 Hz square wave. So, the duty cycle could be something like 25%, or maybe even less.
So, to get a current reading of 30 mA, the actual current might be more like 120 mA when it is flowing through the LEDs.