The magnetic field gradient within optical pumping magnetometers (OPMs) suppresses sensitivity improvement. We investigated the effects of the magnetic field gradient along the x-, y-, and z-axes on the limiting factors of magnetometers under extremely low magnetic field conditions. We modified the magnetic field gradient relaxation model such that it can be applied to atoms in the spin exchange relaxation free (SERF) regime. The gradient relaxation time and spin polarizations, combined with fast spin-exchange interaction, were determined simultaneously using the oscillating cosine magnetic field excitation and amplitude spectrum analysis method. During the experiments, we eliminated the errors caused by the temperature and pumping power, and considered different isotope spin exchange collisions in naturally abundant Rb during the data analysis to improve the fitting accuracy. The experimental results agreed well with those of theoretical calculations and confirmed the accuracy of the improved model. The contribution of the transverse magnetic field gradient to the relaxation of the magnetic field gradient cannot be ignored in the case of small static magnetic fields. Our study provides a theoretical and experimental basis for eliminating magnetic gradient relaxation in atomic sensors in the SERF region.