Bait is highly variable in its cost. Worms and frozen clams can be relatively cheap, while live eels and fresh, locally caught menhaden can be much more expensive. Expect to pay anywhere from a couple dollars for a full package of frozen bait (like squid), to over three for a single eel. But the fresher and more local a bait is, the better it is, and sometimes that will cost more. While stripers aren’t picky, in my opinion, fresh bait is much better than frozen bait.