A repeated error made by Asian makers of Strat-type tremolo units is to leave the vertical section of the arm too short.
As a consequence, the arm does not rise away from the face of the guitar enough before the bend, and the main part of the arm therefore hits the volume control knob when being swung, as well as feeling too low to the face of the guitar. One method used by those makers to address that problem is to have an awkward (and, as far as I can see, pointless) upward bend in the arm near the part usually held by the player.
Part of that seems to be in homage to the original 1950s shape of the Fender arm - which had more or less the same problem. The later, 1960s, pattern for the arm had a longer vertical section, allowing the free-swinging arm to avoid the controls and to run more in a parallel direction to the face of the guitar. But most makers of replacement arms and tremolo units seem (nowadays) to opt for the 1950s look.
A few years ago, after installing a Wilkinson replacement trem-bridge on my Squier Jagmaster, I was experiencing the same problems. No contact between the (pop-in) arm and the volume pot (the Wilkinson units are too well-made for that), but an inability to get the arm sitting parallel to the face of the instrument. I got round it by buying a replacement (Japanese) Jazzmaster tremolo arm and cutting it at the bend. The diameters of an Asian Wilkinson arm and an Asian Jazzmaster arm are the same. I then pushed the free end of the arm into the trem arm socket, and marked the point where I wanted the bend with a permanent marker. My local luthier is well practiced in bending Strat arms and and was able to make a bend in the Jazzmaster arm at that marked-out higher point. A single bend was all that was required: the rest of the arm had a typical Jazzmaster curve to it and when the job was completed (without breaking the chrome plating!), the new, ex-Jazzmaster, arm had a longer vertical section and (in my opinion) a better attitude to the rest of the guitar - not too high or too low at the business end.
Cheap Asian made trem arms are usually way too long and with that ugly upwards hook.
A picture's worth a thousand words, but I have attached a few words as well...
This is what seems to have become the standard shape for a generic Stratocaster tremolo arm (on everything except the full-featured American 1962 Vintage Reissue). It is based on the original 1954 design rather than on the (IMHO, improved) '1960s' shape used by Fender from 1959 onward. I particularly do not like the feel implicit in the way the original arm stays close to the body for most of its length and then gains height via the bend only a couple of inches from the tip. I definitely prefer the later shape.
See how the arm rises vertically from the bridge before the bend - this keeps the arm farther from the strings - and more like it would be on a Jazzmaster or Jaguar.
Above: difference in drop lengths. Below: general view of different shapes.

JN