The Flyers will receive a fourth-round pick and conditional seventh-round selection in the 2017 NHL Draft. If all conditions are met, the Flyers will have 12 picks in the upcoming draft, the most of any team.
Filppula, 32, who reportedly rejected a trade to the Toronto Maple Leafs earlier this week, is signed through 2017-18 at $5 million per season. He has a no-trade clause with a list of 16 clubs he was willing to be dealt to. The 12-year veteran has seven goals and 34 points in 59 games this season.
His no-movement clause forces the Flyers to protect him at the upcoming expansion draft.
Streit's tenure with Tampa would last just about an hour, as the Lightning quickly flipped the blueliner over to the Pittsburgh Penguins in exchange for a fourth-round pick in 2018.
Streit has a $5.25-million cap hit and is set to become a free agent at the end of the season. The 39-year-old has 5 goals and 21 points in 49 games this season, and will provide much-needed depth on defence in Pittsburgh.
The move comes as the Lightning seek to shed payroll with an eye towards this off-season, when younger forwards Tyler Johnson, Ondrej Palat and Jonathan Drouin will need to be re-signed.