Here is how to jailbreak iPhone 4 using Limera1n. But if you want to unlock it now, then upgrade to iOS 4.1 preserving baseband. Here are both the guides.
Jailbreak iPhone 4 4.1 iOS Guide
Update to iOS 4.1 while preserving the 1.59.00 baseband
Jailbreak iPhone 4 4.1 iOS Guide
Update to iOS 4.1 while preserving the 1.59.00 baseband